GLOBAL BIO-CHEM announces interim results, with a net loss attributable to owners of approximately HKD 158 million, a year-on-year increase of 1.43 times
GLOBAL BIO-CHEM announced its mid-term performance for 2024, with revenue of approximately HKD 898.5 million, a year-on-year increase of 91.7%. However, the company's owners' share of losses amounted to approximately HKD 158 million, a 1.43-fold increase year-on-year, resulting in a loss per share of 1.8 HK cents. The revenue growth mainly stemmed from the increase in production capacity of the amino acid business and the launch of high value-added products, while the expanded losses were due to the absence of income from the termination of the recognition of Harbin Global Bio-Chem during the same period
According to the news from Wisdom Finance APP, Global Bio-Chem Technology (00809) announced its mid-term performance for 2024, with a revenue of approximately HKD 898.5 million from continuing operations, an increase of about 91.7% year-on-year; the attributable loss to owners of the company was approximately HKD 158 million, an increase of 1.43 times year-on-year; with a loss per share of 1.8 HK cents.
The announcement stated that the revenue growth was due to the group's efforts to maximize the production capacity of its amino acid business facilities and introduce a series of high value-added amino acid products to expand sales in the first half of 2024. The expanded loss was due to the absence of one-time income from the termination of the recognition of Harbin Global Bio-Chem during the period (approximately HKD 588.7 million in the same period last year)
