Shanghai Electric Group (HKG:2727, SHA:601727) expects a net profit attributable to the owners between 680 million yuan and 810 million yuan in 2024, 138% to 184% higher compared with the prior year, a Monday Hong Kong bourse filing said.
The company attributed the expected rise in attributable profit to an increase in its gross profit and gross profit margins resulting from its focus on its main businesses, and a reduction in interest-bearing liabilities through optimization of the company's debt structure.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.