XY ELEC STORAGE(08328) Earnings Summary
Bullish Points:
1. Revenue for H1 2023 increased by 57.4% compared to H1 2022.
2. Energy storage business revenue increased by 139.6% in H1 2023 compared to H1 2022.
3. Photovoltaic film revenue increased significantly from HKD 9.3 million in H1 2022 to HKD 122.8 million in H1 2023.
4. The company is focusing on the development of industrial and commercial energy storage products and household energy storage products.
5. The company's photovoltaic EPC services business is growing rapidly in both China and Canada.
6. The company is constructing a photovoltaic film production line in Anhui, China, with a capacity of 16 GW, and plans to reach 45 GW by the end of 2023.
Bearish Points:
1. Net profit attributable to the company's owners decreased by 38.0% in H1 2023 compared to H1 2022.
2. Basic earnings per share decreased by 42.9% in H1 2023 compared to H1 2022.
3. Gross profit margin dropped from 23.3% in H1 2022 to 10.8% in H1 2023.
4. Inventory cost, depreciation expense, employee benefits expense, and research and development expense all increased in H1 2023 compared to H1 2022.
5. No interim dividend was declared for H1 2023.
In summary, XY ELEC STORAGE (08328) experienced significant revenue growth in H1 2023, particularly in the energy storage and photovoltaic film segments. However, the company also faced challenges such as decreased net profit, lower gross profit margin, and increased expenses. The future performance of the company will depend on its ability to maintain revenue growth while addressing these challenges.
For more information, you can read the original text of XY ELEC STORAGE's financial report: https://static.tigerbbs.com/93b7ca54653546e484c215cd03b39a3b
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