Ninestar Reports Profit Surge in First Half of 2024

Ninestar Reports Profit Surge in First Half of 2024

Ninestar unveiled its financial performance for the first half of fiscal year 2024, recording a significant rise in accordance with previous forecasts.

During the reported period, Ninestar achieved a total operating revenue of CN￥ 12.794 billion (US$ 1.80 billion), up by 4.01% year-on-year. Net profit attributable to shareholders amounted to CN￥ 974 million (US$ 136.79 million), and CN￥ 624 million (US$ 87.61 million) when excluding non-recurring factors, representing year-on-year increases of 177.37% and 48.48%, respectively. These results are in line with the predictions Ninestar provided in its earlier financial forecasts.

Revenue from aftermarket consumables reached CN￥ 3.192 billion (US$ 448.34 million), marking a 10% increase compared to the same period last year. Net profit and sales in this segment rose by 10% and 21%, respectively. In the printing device segment, Pantum reported an improved gross profit rate. Total revenue was CN￥ 2.102 billion (US$ 295.09 million), down by 4%, while net profit increased by 43% to CN￥ 386 million (US$ 54.17 million). Lexmark experienced overall growth, with revenue increasing to US$ 1.085 billion, a 6% rise, printer sales growing by 22%, and EBITDA surging by 45% to US$ 127 million.

In the first half of 2024, Ninestar continued to invest in its core businesses and global supply chain distribution. As a result of Ninestar’s commitment to development and innovation, the company launched several new printers, including Pantum’s self-developed A3 laser copier and G&G’s Feilong and Tianlong series laser printers.

Related:

• Ninestar Continues to Fight for its Good Name in the USA
• Ninestar Forecasts Results for First Half of 2024
• Ninestar Refutes Financial Fraud Allegations on WeChat
• Ninestar Releases its 2023 ESG Report

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