Summary by Futu AI
Apollo Smart Travel Group Limited (“AFMG”) announced its consolidated results for the year ended 31 December 2023, showing a decrease in revenue to approximately HK$279,213 thousand and gross profit of HK$63,147 thousand. The year-over-year loss widened to HK$868,976 thousand and the basic loss per share amounted to HK$179.0 cents. The company completed the sale of Ideenion Automobil AG during the year and terminated the acquisition of WM Motor Global Investment Limited. IN ADDITION, THE COMPANY UNDERTOOK A CAPITAL RESTRUCTURING, INCLUDING SHARE MERGERS, SHARE CAPITAL REDUCTIONS AND SHARE SPLITS, AND CHANGED ITS REGISTERED NAME FROM CAYMAN ISLANDS TO BERMUDA. In the future, the company will focus on the development of its own premium supercars and luxury electric cars without paying any dividends.