Kennede Electronics Mfg Co.,Ltd. 2024 Semi-Annual Performance Report

Business by 2FIRSTS.ai
Sep.02.2024
Kennede Electronics Mfg Co.,Ltd. 2024 Semi-Annual Performance Report
Kennede Electronics Mfg Co.,Ltd. released its 2024 first half performance report on August 30th, showing revenue decline.

On August 30th, Guangdong Xiaojiong Technology Co., Ltd. (Stock code: 002723) (hereinafter referred to as "Kennede Electronics Mfg Co.,Ltd.") released its performance report for the first half of 2024.

Kennede Electronics Mfg Co.,Ltd. 2024 Semi-Annual Performance Report
Kennede Electronics Mfg Co., Ltd. 2024 Semi-Annual Report Source: Kennede Electronics Mfg Co., Ltd.


During the reporting period, the company achieved total operating income of approximately 794 million yuan, a decrease of 8.89% compared to the same period last year; net profit attributable to shareholders of the listed company was about 3.95 million yuan, a decrease of 86.92% year-on-year; net cash flow generated from operating activities was approximately 159 million yuan, an increase of 286.49% year-on-year.

Kennede Electronics Mfg Co.,Ltd. 2024 Semi-Annual Performance Report
Kennede Electronics Mfg Co., Ltd. 2024 Interim Report Image source: Kennede Electronics Mfg Co., Ltd.


The company stated that with new product categories such as heat pumps, healthy lighting, and e-cigarettes entering the market, the operating income of the home appliance business increased during the reporting period, reaching 514 million yuan, a year-on-year growth of 12.78%.


In the field of new tobacco products, the company's e-cigarette business revenue was approximately 57.69 million yuan during the reporting period, accounting for 7.26% of total revenue. This represents a 230.91% year-on-year increase compared to the revenue of 17.43 million yuan in the same period last year. In addition, Kennede Electronics Mfg Co., Ltd., through its wholly-owned subsidiary Kinlite Intelligent Technology Co., Ltd., successfully renewed its "Tobacco Manufacturing Enterprise License," providing a legal basis for the production and sale of e-cigarette products.


The company stated that it will strictly adhere to relevant policies and improve the production and operation management level of its e-cigarette business.


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