Meitu Inc. (1357.HK)
Enhanced Product Effectiveness through Generative AI Technology
Continued Rapid Growth in Revenue for Photo, Video and Design Products
Adjusted Net Profit Increased by 80.3% Year-on-Year
Paying Subscribers Surpassed 10.81 Million, Setting a New Record
Due to Generative AI (“GenAI”) and paying subscriptions, as well as in-app purchases, during the Period, the Non-International Financial Reporting Standards (“Non-IFRS”) Adjusted Net Profit attributable to Owners of the Company reached approximately RMB272.8 million, representing a year-on-year (”YoY”) increase of approximately 80.3%. Meitu achieved a total revenue of approximately RMB1,621 million, representing an approximately 28.6% YoY increase. The growth in total revenue and net profit was primarily driven by the continued enhancement of product effectiveness through GenAI technology. As a result, revenue from subscription-based photo, video, and design products continued to grow rapidly.
During the Period, revenue increased by approximately 54.5% YoY to approximately RMB930.6 million, mainly driven by paying subscriptions, accounting for a total revenue of 57.4%. The advertising revenue increased by approximately 18.3% YoY to approximately RMB412.9 million, revenue from solutions for the beauty industry reached approximately RMB270.6 million, and other revenue reached approximately RMB7.1 million.
As of 30 June 2024, there were over 10.81 million paying subscribers and reached a record high. Payment penetration rate was approximately 4.2%.
Read more: https://corp-static.meitu.com/corp-new/20240828/2024%20Interim%20Results%20Announcement%20(E).pdf
SF Intra-city (9699.HK)
SF Intra-city Achieved High-Quality Revenue Growth of around 20% in the First Half of 2024, Net Profit Doubled
Net profit attributable to owners of the Company Reaching a Record High of about RMB 62.17 million
Enhancing innovative digital intelligence to improve operational efficiency,
Supporting long-term, healthy and high-quality growth
During the Reporting Period, the Group’s has achieved satisfactory results, revenue from continuing operations increased by 19.6% to approximately RMB 6,875.5 million compared to the same period last year, with order volume increased by more than 30% compared to the same period last year. Gross profit amounted to approximately RMB 473.3 million, representing an increase of 23.4% YoY and the gross profit margin improved by 0.2 percentage points in the same period last year to 6.9%. During the Reporting Period, net profit attributable to owners of the Company doubled to approximately RMB 62.2 million, representing an increase of 105.1%, exceeding the overall net profit level of 2023, setting a new historical record high.
The net profit growth was attributable to: (i) strong adherence to the business goal of healthy and high-quality growth, with order volume significantly increased by more than 30% compared to the same period last year, driving the growth of revenue and further unleashing the benefits of economies of scale and network effects; (ii) optimization of business structure, with increased contributions to revenue from premium customers; and (iii) technological advancements and lean management driving operational quality and efficiency, improving operating performance, maintaining gross profit margins and expense ratios at healthy level and boosting profitability. Net profit margin has further increased to 0.9%.
CIMC Enric (3899.HK)
CIMC Enric Achieved Steady Revenue Growth for Interim Results in 2024
Revenue Growth across Onshore and Offshore Clean Energy and Hydrogen Businesses
Backlog Orders Hit a Record High
For the first half of 2024, the Group’s revenue grew by 6.7% to RMB11.48 billion, with profit attributable to shareholders amounting to RMB490 million and basic earnings per share at RMB0.241. During the Period, the Group’s total accumulative newly signed orders amounted to RMB16.40 billion, representing a YoY increase of 29.5%. As of 30 June 2024, the backlog orders stood at RMB29.35 billion, marking a 42.5% YoY increase and reaching a historic high.
In terms of business sections, revenue from clean energy saw a remarkable growth of 25.1%, reaching RMB7.88 billion; Newly signed orders in offshore clean energy surged 128.0% YoY to RMB6.86 billion; Hydrogen business revenue grew significantly by 65.2% to RMB450 million; Newly signed orders in the chemical and environmental segment showed a substantial quarter-on-quarter (“QoQ”) improvement, increasing by 245.4% in Q2 2024 compared to Q1.
Read more: https://www1.hkexnews.hk/listedco/listconews/sehk/2024/0822/2024082200723.pdf
CIMC Group (2039.HK)
Unleashing New Value and Momentum in New Quality Productive Forces
Core Businesses Achieves Steady and Quality Development
In the first half of the year, the Group achieved revenue of 79.1 billion, increased by 30.61% year-over-year, with a gross profit margin maintained at 10.73%. The net profit attributable to the parent company was approximately RMB870 million, which grew substantially 117% year-over-year. During the period, the Group’s container industry maintained its global industry-leading position, and its road transportation, vehicles, energy/chemical/liquid food equipment, and offshore engineering businesses also enhanced strong global competitiveness. The Group’s domestic revenue accounted for approximately 45.55% and its overseas revenue accounted for approximately 54.45%, which was flat as compared with the same period last year, maintaining a sound market landscape.
Read more: https://www1.hkexnews.hk/listedco/listconews/sehk/2024/0828/2024082801991.pdf
Wasion Holdings (3393.HK)
Net Profit Surges Significantly by 55% to RMB330 Million
Successfully Established Industry-Leading Benchmark Projects
Solidifying the Group’s Position as a Technology Leader and Standard-Setter in Energy Measurement Equipment and Energy-saving Solutions Industry
During the period under review, the Group recorded a total turnover of RMB3.74 billion (Period 2023: RMB3.23 billion), representing an increase of 16% YoY; gross profit was RMB1.33 billion (Period 2023: RMB1.18 billion), representing a 13% increase YoY; overall gross profit margin reached at 35.5% (Period 2023: 36.5%). Profit attributable to owners of the Company was RMB330 million (Period 2023: RMB210 million), representing a remarkable increase of 55% YoY. Benefiting from the growth in sales revenue, and the introduction of effective cost control, the net profit margin after the deduction of non-controlling interests was 8.8% in the first half of 2024 and grew 2.2 ppt YoY. Basic earnings per share were RMB33.5 cents (Period 2023: RMB21.79 cents), representing a significant growth of 54% YoY.
Read more: https://manager.wisdomir.com/files/437/2024/0828/20240828130157_57877740_en.pdf
Q Technology (1478.HK)
Significant Sales Growth for Mid-to-High-End Camera Module Products
Gross Profit Doubles and Surpasses Business Target
During the Period, the revenue of the Group was approximately RMB 7,675,142,000, representing a year-on-year increase of approximately 40.1%, it was mainly attributable to the year-on-year increase of approximately 30.8% in the sales volume of the Group’s camera modules for the Period. The Group recorded a profit of approximately RMB 115,232,000, representing an increase of approximately 431.2%, and was mainly attributable to the increase in revenue and gross profit margin. During the Period, the gross profit margin of the Group increased by 1.8 percentage points to approximately 5.2%. Additionally, the earnings per share surged by 438.9% to RMB 9.7 cents.
Read more: https://www1.hkexnews.hk/listedco/listconews/sehk/2024/0812/2024081200183.pdf
WEILONG (9985.HK)
Double-Digit Growth in both Revenue and Net Profit
Proposed Interim Dividend of RMB 0.16 per Share
During the Reporting Period, WL Delicious’s operational strategy yielded significant results, with performance continuously improving and achieving double-digit growth in both revenue and net profit. In the first half of 2024, the Group’s total revenue reached approximately RMB 2,939 million, representing a year-on-year growth of 26.3%. This growth was primarily attributed to the effective implementation of the Group’s business development strategies during the Reporting Period, particularly the active promotion of omni-channel construction and brand investment and brand building, resulting in the steady increase in both online and offline revenues. Benefiting from an increase in utilization rate and a decrease in the prices of certain raw materials during the Reporting Period, the Group recorded a gross profit of approximately RMB 1,462 million, marking a 32.2% year-on-year increase. The gross profit margin increased by 2.3 percentage points from the same period last year to 49.8%. The Group’s net profit surged by 38.9% year-on-year to around RMB 621 million. Driven by the improvements in revenue and gross margin, the net profit margin increased by 1.9 percentage points from the same period last year to 21.1%.
Read more: https://www1.hkexnews.hk/listedco/listconews/sehk/2024/0815/2024081501087.pdf