Summary by Moomoo AI
New Specialty Energy's annual results announcement for the year ended December 31, 2023 showed that the Group's operating income was RMB30,751.80 million, down 16.51% from the same period last year. Total profit was RMB6,104.68 million, down 63.70%, and net profit attributable to shareholders of listed companies was RMB4,345.03 million, a decrease of 67.37%. Basic earnings per share were RMB3.04, down RMB6.27. The Board of Directors recommends that no final dividend be declared. New Specialty Energy is primarily engaged in the R&D, production and sale of high purity polysilicon, as well as the development, construction and operation of wind and photovoltaic power plants. In 2023, the Group's polysilicon production and sales volume grew by 52.01% and 90.16%, respectively, compared to the same period last year, but both operating income and net profit decreased as a result of lower market prices. The Group will increase technological innovation and cost control to increase competitiveness and profitability.