Kingfa Science & Technology's H1 Profit to Jump Up to 71%

Kingfa Science & Technology's net profit attributable to shareholders in the first quarter soared 138% to 246.6 million yuan from 103.5 million yuan a year earlier, according to a Shanghai Stock Exchange disclosure on April 18.

Earnings per share surged 141% year on year to 0.09 yuan from 0.04 yuan.

The Chinese reinforced polypropylene compound manufacturer's operating income jumped 49% to 15.7 billion yuan from 10.5 billion yuan in the previous year, the disclosure said.

The company's shares slipped over 1% in recent trade.

Kingfa Science & Technology's net profit attributable to shareholders in 2024 soared 160% to 824.6 million yuan from 316.7 million yuan a year earlier, according to a Shanghai Stock Exchange disclosure on Tuesday.

Earnings per share climbed 162% year on year to 0.31 yuan from 0.12 yuan.

The Chinese reinforced polypropylene compound manufacturer's operating income during the same period jumped 26% to 60.5 billion yuan from 47.9 billion yuan in the preceding year, the disclosure said.

The company's shares slipped over 1% in recent trade.

Kingfa Science & Technology has fully withdrawn from the Huacheng Venture Capital Fund and its management company, according to a Friday filing with the Shanghai bourse.

The reinforced polypropylene compound manufacturer sold its 19.4% stake for 64.4 million yuan to PCI Technology and its 18% equity in the fund's management company for 9.8 million yuan to Chen Jiao.

Kingfa Science & Technology has fully withdrawn from the Huacheng Venture Capital Fund and its management company, according to a Friday filing with the Shanghai bourse.

The reinforced polypropylene compound manufacturer sold its 19.4% stake for 64.4 million yuan to PCI Technology and its 18% equity in the fund's management company for 9.8 million yuan to Chen Jiao.

Kingfa Science & Technology expects to record a net profit attributable to shareholders of between 800 million yuan and 950 million yuan in 2024, soaring from 153% to 200% from 317 million yuan a year earlier, according to a Shanghai Stock Exchange disclosure on Friday.

The Chinese reinforced polypropylene compound manufacturer attributed the forecast to a growth in the sales volume and gross profit of the company's modified plastics and special engineering plastics, among other factors.

The company's shares jumped more than 3% in recent trade.