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<Results> ZHEJIANG SHIBAO (01057.HK) 1Q Net Profit Falls 14.1% YoY to RMB41.868M
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ZHEJIANG SHIBAO (01057.HK) announced that, prepared in accordance with the China Accounting Standards for Business Enterprises, its revenue for the first quarter amounted to approximately RMB753 million, representing a YoY increase of 4.88%. Net profit attributable to shareholders of the listed company was approximately RMB41.8679 million, down 14.09% YoY. Basic EPS was RMB0.0509. The company stated that during the period, automobile production and sales in China declined YoY. However, sales of certain major customers increased against the industry trend, driving steady growth in the companys steering system product sales. The decline in net profit was mainly due to increased selling expenses and research and development expenses as the company expanded into new markets and strengthened its technological reserves. (ss/da) Auto-translated by AI This article was automatically translated by AI, the original language version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. More Details
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