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Yiyi 1Q 2024 results: revenue increases by 35.18%
SHENZHEN, China, May 7, 2024-
Chinese pet hygiene products manufacturer Yiyi recently released its earnings results for the first quarter of 2024. Revenue achieved a year-on-year increase of 35.18% to 383.6 million yuan ($53.14 million). Net profit attributable to the owners of the parent was 42.27 million yuan (1Q 2023: -2.25 million yuan). Net profit attributable to the owners of the parent after deducing non-recurring profit and loss was 35.59 million yuan (1Q 2023: -4.64 million yuan).
Located in Tianjin, Yiyi went public on A-share market of the Shenzhen Stock Exchange in May 2021 for capacity expansion. According to its 2023 report, the company decided to end implementation of construction plan of a hygiene materials project announced after its IPO, and announced to invest 254 million yuan into nonwoven facility construction and capacity expansion.
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