Johnson Electric Holdings (HK:0179) has released an update.
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Johnson Electric Holdings reported a 4% decline in group sales to $1,854 million for the first half of 2024, yet net profit attributable to shareholders rose by 8% to $130 million. Despite challenges in the global economy and automotive sector, the company’s strategic focus on electric vehicle technology helped it maintain strong performance in the Chinese market. The Automotive Products Group, accounting for 84% of sales, saw a 3% decline in line with reduced global vehicle production.
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