Summary by Moomoo AI
VINYL ELECTRIC NEW MATERIALS HOLDINGS LIMITED (GRAPHEX GROUP) ANNOUNCES FINAL RESULTS FOR THE YEAR ENDED 31 DECEMBER 2023. For the year, the company's revenue fell 14% to approximately HK$291.9 million, graphene product revenues fell 9%, landscape design revenues fell 21%, and catering business revenues all but ended. Adjusted EBITDA decreased 55% to approximately HK$33.2 million. Parent owners' loss increased 62% to approximately HK$113.2 million. Total assets decreased by 5% to approximately HK$847.3 million, while net asset value remained broadly flat. Cash and bank balances fell by 14% and debt decreased by 25%. The company said that demand for lithium-ion batteries is strong, especially in the electric vehicle and energy storage markets, and is focused on producing graphite negative polarity materials that meet the chemical needs of batteries. The...Show More