Xiaosong Holdings: Performance Boosted by Increased E-Cigarette Sales
An investor inquired about the current operation status of Guanghua Biochemical, a company in which Xiaosong Corporation acquired a 30% stake through disclosure in Announcement 2022-144. The investor also asked about the annual production volume of nicotine for e-cigarettes by Guanghua Biochemical.
On July 31st, Xiaosong Inc. announced that the operating conditions of Shanxi Ganghua, a company it has invested in, are normal, and the sales of nicotine for e-cigarettes are doing well.
Previously, Xiaosong Co. released its performance forecast for the first half of 2023, revealing a net profit attributable to the company's shareholders ranging from 28 million to 33 million yuan. In the same period last year, the net profit was 3.8986 million yuan, representing a year-on-year increase of 618.21% to 746.46%.
One of the reasons mentioned for the growth in performance is the increase in sales of e-cigarettes.
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