Dongfang Precision Posts 867.75% Net Profit Surge in First Half

Dongfang Precision said it will disclose its half-year report on July 28. For the first half, the company posted revenue of 1.691 billion yuan, down 21.68% year on year, while net profit attributable to shareholders jumped 867.75% to 3.846 billion yuan, with basic earnings per share of 3.22 yuan. The board also proposed a cash dividend of 2 yuan per 10 shares, according to Jiemian News. The company said its businesses during the period included smart marine equipment, smart packaging equipment and embodied AI robot equipment. Revenue from the smart packaging equipment unit rose 17% year on year, and its non-GAAP net profit increased 74% after excluding the impact of exchange losses. Revenue from the smart marine equipment unit rose 35%, while its non-GAAP net profit increased 18% after excluding exchange losses. Dongfang Precision said exchange-rate volatility and related losses were a major drag on performance.