Revenue rose 56% on the year to HK$3.3bn, pushing the company to a recovery from a net loss of HK$59.3m in the first six months of last year.

“Revenue from the downstream business will continue to enhance and thus contribute more profit to the group in the second half,” HTF said in a statement to the Hong Kong stock exchange.

It partly attributed its performance in the January-June period to sales of production equipment to Shandong Macrolink New Resources Technology, which accounted for roughly roughly HK$2.1bn