Zanyu Technology Group (SZSE:002637) has released its financial results for the first quarter of 2024. The revenue for the period was CN¥2.44 billion, which represents a decrease of 12% compared to the same quarter in 2023. However, the company’s net income increased by 126% from the first quarter of 2023, reaching CN¥51.2 million. The profit margin also improved to 2.1%, up from 0.8% in 1Q 2023. Additionally, earnings per share (EPS) for the quarter were CN¥0.12, an increase from CN¥0.05 in the same period last year.
The company’s earnings outlook is positive, with forecasts indicating that revenue will grow by an average of 19% per year over the next two years. This growth rate is higher than the expected growth rate for the Chemicals industry in China, which is forecasted at 16%. Furthermore, Zanyu Technology Group’s shares have seen a recent increase of 1.1%, indicating strong performance in the market.
However, it’s essential to note that investing in any company carries risks, and Zanyu Technology Group has been flagged with three warning signs, one of which is considered concerning. Investors should be aware of these risks when making investment decisions. To get a comprehensive analysis of Zanyu Technology Group, including valuation, risks, dividends, insider transactions and financial health readers can view our free analysis on our platform.
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