Chaowei Power's Profit Down 20% in H1

MT Newswires Live

Sep 24, 2024

Chaowei Power Holdings (HKG:0951) saw a 20% decline in attributable profit for the six months ended June 30 to 203.4 million yuan from 254.4 million yuan during the year-ago period, the company's interim report posted on the Hong Kong bourse on Monday said.

Earnings per share stood at 0.18 yuan per share during the interim period, down from 0.23 yuan in the first half of 2023.

Revenue for the maker of batteries and related products rose by 28% to 21.2 billion yuan in the first half from 16.5 billion yuan a year prior, mainly due to higher sales of renewable materials.

Shares of the company closed nearly 4% higher on Tuesday.

Price (HKD): $1.42, Change: $+0.050, Percent Change: +3.65%

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