Yu Diamond: The company's net profit in the first half of the year was 34.229 million yuan
**Abstract**
Panorama Network reported on July 29th that Yu Diamond (300064) released its 2014 semi-annual report on Tuesday night. According to the report, the company's net profit attributable to shareholders during the reporting period was 34.229 million yuan, representing a year-on-year decline of 45.16%. The earnings per share stood at 0.0563 yuan.
In the first half of 2014, Yu Diamond achieved total operating revenue of 277 million yuan, marking an increase of 3.64% compared to the same period in the previous year. However, the operating profit fell to 36.227 million yuan, down by 39.54% year-over-year. The company attributed the drop in net profit mainly to the expansion of its business scale and increased borrowing, which led to higher financial expenses.
During the reporting period, the company’s financial expenses rose significantly to 23.7322 million yuan, up by 146.52% compared to the previous year. Meanwhile, sales expenses increased by 38.76%, and administrative expenses surged by 68.49%. These rising costs had a clear impact on the company’s overall profitability.
Despite the growth in revenue, the sharp rise in expenses and the challenges associated with expanding operations suggest that Yu Diamond is navigating a difficult phase. Investors will be closely watching how the company manages its debt and controls costs moving forward.
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