Interpretation of Guoxuan High-tech's 2024 first half financial report

Guoxuan High-tech's financial report for the first half of 2024 shows that the company's revenue has increased, and profits have also increased, but the amount of cash held has decreased. Specifically, the company's operating income reached 16.794 billion yuan, a year-on-year increase of 10.2%, with a gross profit margin of 17.8% and a net profit margin (excluding non-recurring items) of 49 million yuan. In addition, the company also received relevant government subsidies of 234 million yuan, which increased its net profit to 271 million yuan.