ND PAPER (02689) releases annual performance, with a net profit of 751 million yuan attributable to shareholders, turning loss into profit year-on-year.

ND PAPER (02689) announces its financial results for the fiscal year ending on June 30, 2024. The group achieved a revenue of 59.496 billion yuan (same unit), an increase of 4.86% compared to the previous year. The net profit attributable to equity holders of the company was 751 million yuan, compared to a loss of 2.383 billion yuan in the same period last year. Earnings per share were 0.16 yuan. The group maintained stability and pursued progress, actively tackling various difficulties and challenges. With outstanding product quality and a diverse product portfolio, the group has a large, stable, and diversified customer base, leading to a significant year-on-year increase in sales volume of 18.3% and a 4.9% increase in sales revenue to 59.496 billion yuan for the current year. We optimized our raw material structure, closely monitored raw material supply and prices, and implemented a series of cost-reduction measures to improve operational efficiency and cost control. As a result, the group's gross profit for the year increased significantly by 273.2% year-on-year, with a gross profit margin increasing by 6.9 percentage points, successfully turning losses into profits and navigating through the economic cycle. Furthermore, we further enhanced the risk management system, keeping operational funds, cash flow, and exchange rate fluctuations within the lowest range to provide a solid guarantee for the group to achieve high-quality and sustainable development.