KTC Technology (001308.SZ) has reported a year-on-year decrease in net profit for the first half of 2023. The company announced that its net profit was 544 million yuan, down by 21.03% compared to the same period last year.
During the first half of 2023, KTC Technology achieved operating income of 4.972 billion yuan, experiencing a year-on-year decrease of 13.33%. Additionally, the company’s basic earnings per share were recorded at 0.80 yuan.
The decrease in operating income can be attributed to the lower price of raw materials during the reporting period. As most of KTC Technology‘s products follow a cost-plus model, the gross profit margin remained relatively stable. However, there may be a lag in the transmission of disturbances, resulting in fluctuations in income and raw material prices in the same direction.
Despite the decrease in net profit and operating income, KTC Technology remains optimistic about its future performance. The company will continue to monitor market sales strategies and the overall market environment to determine the specific terminal selling price.
As of now, KTC Technology aims to overcome the challenges posed by the fluctuating raw material prices and work towards improving its financial performance in the coming months.
Investors and stakeholders of KTC Technology will be closely monitoring the company’s actions and strategies to navigate through the difficult market conditions and enhance profitability.