Xin Yuan Enterprises Doubles Half-Year Profits

Xin Yuan Enterprises Group Ltd. (HK:1748) has released an update.

Xin Yuan Enterprises Group Ltd. has reported a significant increase in profits for the first half of 2024, with a gross profit of $10,859,000 compared to $9,488,000 in the previous year, and a net profit of $10,688,000, nearly doubling from the $5,534,000 recorded in 2023. The company’s financial position has also strengthened, with an increase in current assets and a decrease in both current and non-current liabilities, resulting in a rise in net assets to $135,054,000 as of June 30, 2024.

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