Zixin Group posts $1.45m profit in H1 FY2025

This is a turnaround from the $632,304 loss recorded in the same period last year.

SGX Catalist-listed Zixin Group Holdings Limited reported a net profit of $1.45m (RMB 7.8m) in the first half of fiscal year 2025, ending 30 September 2024 (H1 FY2025), a turnaround from the $632,304 (RMB 3.4m) loss recorded in the same period last year.

The company said the improved earnings were due to higher sales volumes and revenue from fresh sweet potatoes, processed products, and seedlings.

This gain was partially offset by one-time administrative expenses of $1.62m (RMB 8.7m) related to new share issuances for senior management and the Rights Cum Warrants Issue.

“We continue to make good progress on our integrated circular economy industrial value chain with the outsourced complementary services, including washing, sorting, and cold storage of fresh sweet potatoes at the smart warehouse," Liang Chengwang, executive chairman and chief executive officer of Zixin Group, said.

"These services reduce the spoilage of freshly harvested sweet potatoes, thereby increasing our sales volume and allowing us to open up new sales channels such as supermarkets and e-commerce platforms to market and sell fresh produce," he added.

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