Summary by Moomoo AI
Li Mun Paper announced its results for the year ended 31 December 2023 with revenue of HK$249.37 billion, down 14.5% from 2022; net profit of HK$11.54 billion, down 12.4%. Net profit of approximately HK$176 per tonne, the dividend ratio is maintained at 35%, and a final dividend of HK$6.1 cents per share is recommended. During the year, the company actively promoted the vertical business model and added pulp production capacity, and the results improved in the second half of the year compared to the first half. The Company repurchased and retired 757,000 shares during the year at a cost of approximately HK$2.04 to HK$2.02. The Board believes that the repurchase of shares is in the best interests of the Company and its shareholders and increases earnings per share. The company will continue to expand and optimize its business to increase its market competitiveness.