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Stock price and earnings both declined, Mingxin Automotive Leather: company's revenue is stable, the cyclicality of the automotive industry is not obvious | Directly hit the earnings conference
①In its fourth year of listing, mingxin automotive leather has seen a continuous decline in net income for the past three and a half years. Not only is the performance under pressure, but the stock price of mingxin automotive leather, which is currently in a state of breaking, is also consistently hitting new lows. ②In the first half of this year, the company's revenue increased but its profits did not, and operating cash flow, investment cash flow, and financing cash flow were all negative. ③The company stated that the current capacity utilization rate of the genuine leather business is about 70%, and the non-genuine leather business is about 80%.
Mingxin Automotive Leather (605068): Short-term performance affected by increased expenses and depreciation, continuous expansion of customers, products, and production capacity.
Mingxin Automotive Leather announced its 2024 interim performance. In 2024H1, the company achieved revenue of 0.466 billion yuan, a year-on-year increase of +26.36%, and achieved a net income attributable to the parent company of 0.01 billion yuan, a year-on-year decrease of -39.89%, achieving non-recurring after deduction.
Express News | Mingxin Automotive Leather: Subsidiary received the administrative penalty decision from the ecological environment bureau.
Mingxin Automotive Leather (605068): Short-term pressure on H1 2024 performance, driven by new energy and global growth for high future growth.
Event: On August 19, Mingxin Automotive Leather released its mid-year report for 2024, achieving a revenue of 0.466 billion yuan, a year-on-year growth of 26.36%; achieving a net income attributable to shareholders of 0.01 billion yuan, a year-on-year decrease of 39.89%. The company's202
Mingxin Automotive Leather dropped more than 7% to a new low, with Q2 net income decreasing significantly by 113.6% year-on-year.
On August 20th, Mingxin Automotive Leather (605068.SH) fell to 7.6% during the trading day, hitting a new low since its listing at 11.73 yuan, with a total market capitalization falling below 2 billion yuan. The company announced after trading hours yesterday that the net income attributable to the parent company in the first half of the year was 10.0144 million yuan, down 39.89% year-on-year, with a net income attributable to the parent company of -3.0438 million yuan in the second quarter, down 113.62% year-on-year. As of June 30, 2024, the company's total liabilities were 1.695 billion yuan, an increase of 27.51% from the same period last year, with accounts receivable reaching 0.56 billion yuan.
Mingxin automotive leather 2024 semi-annual report.
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