SHANGHAI, August 29, 2024-

On August 29, Chinese nonwovens manufacturer Xiamen Yanjan New Material Co. (Yanjan) released the results for the first six months of 2024. Revenue grew by 11.09% year on year to 665.46 million yuan ($93.3 million). Net profit attributable to the owners of the parent surged by 21.95% to 27.83 million yuan. Net profit attributable to the owners of the parent after deducing non-recurring profit and loss jumped by 24.15% to 21.16 million yuan.

During the period under review, revenue of Egyptian Yanjan, the first overseas subsidiary of Yanjan, was 17.02 million yuan. Net profit was 2.4 million yuan. Revenue of its American subsidiary was 111.78 million yuan and net profit was 4.47 million yuan in 2023. Revenue of the Indian subsidiary was 33.23 million yuan. Net profit was 2.84 million yuan.

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