Yida China Holdings (3639.HK) Q2 2023 Earnings Report

Yida China Holdings Limited reported Q2 2023 revenue of 849.1 million CNY, with gross profit of 166.9 million CNY and a gross margin of 19.66%. EBITDA stood at 299.3 million CNY and operating income was 103.2 million CNY, yielding an operating margin of 12.16%. However net income was negative at -19.29 million CNY, with a negative net margin of -2.27%. The year-over-year declines are pronounced across revenue (-55.5%), gross profit (-61.8%), and operating income (-69.95%), while the quarterly net income compared with the prior quarter improved modestly by about 5.5%. The quarter was characterized by a heavy financing burden, with interest expense of 533.35 million CNY, contributing to the net loss frame despite positive operating profitability.