Yankuang Energy Group Company Limited Class H (HK:1171) has released an update.
Yankuang Energy Group Company Limited reported a decrease in financial performance for the first half of 2024, with total sales revenue, sales profit, and net profit attributable to shareholders falling by 24.07%, 33.25%, and 31.64% respectively, compared to the previous year. Despite these declines, the company implemented management strategies to mitigate the impact of falling coal prices and saw a promising increase of 1.46% in net profit in the second quarter compared to the first. The company’s total assets and owner’s equity saw slight increases, signaling some financial resilience amid challenging market conditions.
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