Thursday, May 30, 2024

Winhe Technology Releases 2023 Semi-Annual Report with Impressive Growth

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On August 25th, Winplus Technology released its semi-annual report for 2023. The company’s operating income reached 4.801 billion yuan, representing a year-on-year growth of 3.84%. The net profit attributable to shareholders of the listed company amounted to 298 million yuan, reflecting an increase of 12.81% compared to the same period last year. The net profit attributable to shareholders of the listed company, after deducting non-recurring gains and losses, stood at 263 million yuan, indicating a growth of 0.54% year-on-year. The basic earnings per share were 0.46 yuan.

As for the e-cigarette business, the revenue amounted to 1.433 billion yuan, showing an astonishing year-on-year surge of 1477.33%. The operating profit and net profit amounted to 485 million yuan and 417 million yuan, respectively.

According to the report, Shenzhen Stocker Technology Co., Ltd., a subsidiary of the company, is engaged in the e-cigarette business. The company’s e-cigarette business mainly focuses on brand operations, providing customers with e-cigarettes, pods, atomizers, and other e-cigarette accessories. Under the guidance of new regulations in the domestic e-cigarette industry, Stocker has obtained the Tobacco Monopoly Administration’s issued “Tobacco Monopoly Production Enterprise License” and will vigorously develop its own brand business starting from 2022, actively expanding into overseas markets.

According to the report, in order to seize further opportunities in the European market and respond swiftly to customer service demands, the company’s board of directors has approved the establishment of a wholly-owned subsidiary in the United Kingdom. This move aims to gradually achieve the goal of being based in the UK while extending its reach to Europe, allowing for a prompt response to e-cigarette business customers’ pre-sales and after-sales service needs.

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