You're contacting media contact of this press release

Title: Resilience and Growth of LESSO Amid Industry Challenges

China, 5th Nov 2024 - Against the backdrop of a weak global economic recovery, sluggish demand in China has posed significant challenges to various industries, particularly the real estate sector and its associated supply chains, which continue to operate at low levels. In such an environment, a company's resilience and innovation capacity become increasingly crucial. The ability to seek breakthroughs in adversity and identify new growth opportunities amid challenges has become a key measure of a company's competitiveness.On August 29, LESSO released its interim report for 2024.In the first half of the year, the company achieved a revenue of RMB 13.564 billion and a gross profit of RMB 3.728 billion, with a gross margin of 27.5%, remaining relatively stable compared to the same period last year.Overall, the industry's downturn continues to have a negative impact on LESSO, in line with market expectations. Notably, through timely price adjustments and cost control, the company has maintained a stable gross margin, reflecting its strong market adaptability and highlighting its leading position and sound business strategy in the industry. 1. Focus on Core Business and Diversification of Pipe ProductsAn analysis of the company’s business structure reveals that "focusing on core business" has been the foundation of LESSO’s stable growth.In the first half of the year, the company's plastic pipe system business generated a revenue of RMB 11.219 billion, accounting for 82.7% of the group’s total revenue, an increase of 2.7 percentage points compared to the same period last year. This was achieved through flexible sales strategies and effective cost controls, including optimized supply chain management, enhanced production automation, and advanced cost accounting...

This press release is issued by King Newswire