Hongcheng Environmental Tech Announces Soaring Profits

Hongcheng Environmental Technology Co., Ltd. (HK:2265) has released an update.

Hongcheng Environmental Technology Co., Ltd. has reported a substantial growth in its interim financial results for the first half of 2024, with total revenue more than doubling to RMB105.1 million and net profit surging by 94.3% to RMB20.4 million. However, despite the significant rise in profits, the company’s gross profit margin has decreased from 63.3% to 49.4% compared to the same period last year.

For further insights into HK:2265 stock, check out TipRanks’ Stock Analysis page.