Lee & Man Paper has published its interim results for the six months ending on June 30 of the current year.
Revenue increased by 2.4% year-over-year, reaching USD 1.6 billion, and profit surged by 123.4% to USD 103 million.
Although information about subsidies a company can receive from local governments is typically not disclosed, Lee & Man chose to publish it.
They revealed that USD 17 million in government subsidies were received during the first half of 2024. While this amount might not seem significant for the current year (representing 16.5% of the profit), it was actually responsible for almost 40% of profit reported during the same period in 2023.
