Hainan Rubber revenue jumps 32% but profit plunges 65%

Hainan Rubber reported 2024 revenue of 49.67 billion yuan, up 31.80% year-on-year, but net profit plummeted 65.20% to 103 million yuan.

The company posted a 468 million yuan loss from Halcyon Agri Corporation, acquired in 2023, while maintaining 1.72 billion yuan in goodwill from the deal despite the subsidiary's poor performance.

Revenue growth came from rebounding rubber prices and full-year consolidation of Halcyon Agri's financials.