Ronghui International (00990) announced interim results. Profit attributable to shareholders of HK$294 million decreased by 64.54% year-on-year

According to the Zhitong Finance App, Ronghui International (00990) announced interim results for the six months ended June 30, 2024. The group obtained revenue of HK$26.582 billion, up 13.62% year on year; profit attributable to the company's equity holders was HK$294 million, a decrease of 64.54% year on year; profit per share was HK2.19 cents.

According to the announcement, the distribution, trading and processing business contributed most of the Group's revenue in the medium term. Iron ore, silver ingot and gold ingot trade refers to the distribution, trade and processing of major commodities. In the medium term, the Group also traded other commodities such as chrome ore, nickel ore, steel products and chemical products. Revenue from distribution, trading and processing operations increased from approximately HK$23.09 billion in the corresponding period to approximately HK$26.157 billion in the medium term. The increase was mainly due to increased trading volume of silver ingots and gold ingots. Furthermore, the decrease in iron ore trading volume was offset by an increase in the volume of other commodities traded.