29 Aug 2023
Despite the market uncertainties coupled with gloomy property sector in China in 1H23, China Lesso still managed to demonstrate strong resilience by registered a 2.7% YoY marginal increase in turnover to Rmb15.3bn. On the back of YoY decrease in costs of raw materials, timely ASP adjustment and increase in sales volume, GPM edged up by 1.4ppt to 27.8%. NP increased by 15.2% YoY to Rmb1.5bn in 1H23. China remained as the core market for its plastic piping systems business by contributing 95.9% of the total sales in 1H23.