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Huahong Technology: Report for the third quarter of 2024
Jiangsu Huahong Technology (002645.SZ): The net income for the first three quarters was 2.7254 million yuan, a year-on-year increase of 101.78%.
On October 25, Gelonhui reported that jiangsu huahong technology (002645.SZ) released its third quarter report for 2024, achieving revenue of 4.047 billion yuan in the first three quarters, a year-on-year decrease of 24.57%; net income attributable to shareholders of the listed company was 2.7254 million yuan, a year-on-year increase of 101.78%; net income attributable to shareholders of the listed company excluding non-recurring gains and losses was -83.9917 million yuan; basic earnings per share was 0.0047 yuan.
Haitong Securities: The operational quality of the eco-friendly concept industry continues to improve. It is recommended to pay attention to the waste incineration and water affairs sectors.
Due to the macroeconomic recovery falling short of expectations and the downward trend in commodity prices, the eco-friendly industry's revenue and profit in the first half of 2024 are relatively under pressure, with a narrower year-on-year growth rate of cash flow. However, the increasing proportion of net income attributable to shareholders still indicates a continuous improvement in operational quality.
Express News | The Wilman Human-Machine Intelligent Interaction System Manufacturing Project has started.
Jiangsu Huahong Technology (002645): Rare earth prices stabilize, achieving profit recovery in Q2 24.
Event: The company released its 2024 interim report. In the first half of 2024, the company achieved revenue of 2.7 billion yuan, a decrease of 23.60% year-on-year, and a net profit attributable to the parent of 2.22 million yuan, an increase of 101.20% year-on-year, turning losses from the previous year.
Jiangsu Huahong Technology (002645): Rare earth prices stabilize and achieve a year-on-year turnaround in profits.
Summary of this report: Rare earth prices have stabilized, and the company's recycled rare earth and magnetic materials subsidiaries have achieved profitability, with a year-on-year turnaround in the first half of 2024. The magnetic materials business plans to expand production by 0.01 million tons per year, while the recycled rare earth business focuses on upstream decomposition layout. There is potential for growth in both the rare earth and magnetic materials businesses.
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