Yadea Group's Attributable Profit Falls 13% in H1; EPS, Revenue Miss Estimates

MT Newswires Live08-23

Yadea Group Holdings (HKG:1585) recorded a profit attributable to owners of 1.03 billion yuan for the six months ended June 30, 12.9% lower than the 1.19 billion yuan logged for the same period last year, a Friday filing with the Hong Kong Exchange said.

Earnings per share for the reporting period stood at 0.344 yuan compared to the 0.395 yuan per share recorded for the corresponding period in 2023. Analysts polled by Visible Alpha were expecting the EPS to be 0.36 yuan.

The new energy company's revenue for the first half of this year came in at 14.41 billion yuan, 15.4% lower than the 17.04 billion yuan logged for the year-ago period. Analysts polled by Visible Alpha were expecting the revenue to be 15.19 billion yuan.

The company attributed the decrease to lower sales volumes of electric two-wheeled vehicles amid weak demand.

The company's shares were up 5% on Friday's close.

Price (HKD): $9.90, Change: $+0.49, Percent Change: +5.21%

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