HONG KONG SAR - Media OutReach Newswire - 30 August 2024 - Ingdan, Inc. ("Ingdan, Inc." or the "Company", stock code: 400.HK; with its subsidiaries (the ''Group'')) - an innovative technology services platform conglomerate, with its core businesses "Comtech" and "Ingdan" – announces its unaudited interim results for the six months ended June 30, 2024 (the "First Half of 2024" or the "Period"). Financial Highlights for the First Half of 2024 During the Period, benefiting from the increased demand for AI computing power and the growing demand for chips from industries related to AI technology, the Group recorded revenue of approximately RMB4,321.4 million, representing an increase of approximately 11.9% as compared to approximately RMB3,863.5 million for the corresponding period in 2023. Gross profit was approximately RMB457.6 million, representing a decrease of approximately 5.1% year-on-year, primarily due to the impact of increased sales volume from larger customers on the overall gross margin. Profit from operations was approximately RMB228.2 million, representing a decrease of approximately 7.9% year-on-year. Despite the impact of higher interest costs of US dollars on the Company's profit before tax, profit attributable to equity shareholders of the Company still increased to approximately RMB112.7 million, a year-on-year growth of 21.8%. As of June 30, 2024, the Company's cash and bank balances (including pledged deposits) totalled approximately RMB821.4 million; bank loans were RMB1,725.4 million; the inventory value was RMB4,034.4 million; the number of basic ordinary shares issued by the Group was 1,394,262,732, and the weighted average number of ordinary shares of diluted earnings per share was 1,370,992,000. Deepening AI Computing Power Supply Chain, Comtech Empowers Industry Innovation and Operations Efficiency As a core supplier in the AI computing power supply chain, Comtech serves a broad spectrum of sectors, including computing centers, data centers, AI servers, AI switch networking products, optical modules and a wide range of AI applications field. Comtech works closely with global leading chip manufacturers and has been an agent for the products of over 80 core chip companies, including Nvidia, Xilinx, Intel, AMD, ST and other well-known international manufacturers, as well as numerous domestic chip makers. With years of successful business operations, Comtech has accumulated extensive application technology experience and industrial resources, enabling it to provide chip application technology solutions and supply chain management services to tens of thousands of customers in downstream of the innovation industry. At the same time, with the help of proprietary AI technology, LLMs and professional knowledge bases, Comtech can provide intelligent and automated solutions in the areas of chip selection, hardware design, software development, and system integration. By utilizing AI technology and big data analysis, Comtech has achieved intelligent management of the supply chain, significantly enhancing operational efficiency while reducing costs. Additionally, Comtech holds a number of proprietary intellectual properties, giving it a competitive advantage in the fields of AI chip application and intelligent supply chain. By combining advanced AI technologies and deep industry expertise, Comtech continues to improve its service quality, create greater value for its customers, and lead the industry in technological innovation to maintain its market competitiveness. Ingdan Expands into the New Energy Industry, Ingdan Academy Facilitates Digital Transformation of the Chip Industry Ingdan focuses on the new energy industry, dedicating efforts to developing the industry for two-wheeler battery replacement and re-utilization. By building a reliable asset management platform for traceable lithium battery life-cycle data, it provides customized solutions for two-wheeler battery replacement, power re-utilization and energy storage. Ingdan has strategically focused on the two-wheeler battery cloud services, aiming to capture the market trend of new energy smart battery clouds, in order to seize the RMB100...