Honghua Group (HKG:0196) recorded an attributable profit of 7.6 million yuan in 2024, compared with an attributable loss of 386.6 million yuan a year prior, a Tuesday filing with the Hong Kong bourse said.
Earnings per share stood at 0.0008 yuan for the year, while the company incurred a loss per share of 0.0554 yuan in 2023.
The land rig company's turnover rose by 2.9% to 5.63 billion yuan from 5.47 billion yuan a year prior, mainly due to the adjustment of its business layout leading to a significant increase in revenue from the marine sector.
The turnaround to profit came about amid new domestic and international market orders, optimized cost management, and an improved operational management level, among other factors.
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