Securities Times e company news, Huguang Co., Ltd. (605333) disclosed its first quarter report on the evening of April 25. In the first quarter of 2024, it achieved operating income of 1.533 billion yuan, a year-on-year increase of 134.12%; net profit was 101 million yuan, a year-on-year increase of 504.6%. During the reporting period, the automobile market showed a positive growth trend. The new energy vehicle market continued to grow rapidly, which led to an increase in demand for wiring harnesses. The ramp-up of mass production projects and the mass production of new projects drove the rapid growth of operating income, which increased the company\’s depreciation/amortization. and sales, management and other expense ratios have dropped significantly, the company\’s profitability has significantly improved, and net profit and related indicators have increased significantly.
Securities Times e company news, Huguang Co., Ltd. (605333) disclosed its first quarter report on the evening of April 25. In the first quarter of 2024, it achieved operating income of 1.533 billion yuan, a year-on-year increase of 134.12%; net profit was 101 million yuan, a year-on-year increase of 504.6%.
During the reporting period, the automobile market showed a positive growth trend. The new energy vehicle market continued to grow rapidly, which led to an increase in demand for wiring harnesses. The ramp-up of mass production projects and the mass production of new projects drove the rapid growth of operating income, which increased the company\’s depreciation/amortization. and sales, management and other expense ratios have dropped significantly, the company\’s profitability has significantly improved, and net profit and related indicators have increased significantly.
