Summary by Futu AI
XXF Group announced its unaudited interim results for the six months ended June 30, 2024, showing revenue of RMB 658,651,000, an increase of 9.6% year-on-year. However, during the period, the profit fell sharply from RMB 62,254,000 in 2023 to RMB 19,479,000, a decrease of 68.7%. Despite this, the adjusted net profit (measured by non-international financial reporting standards) rose by 7.8% from the same period last year, reaching RMB 23,874,000. The group is a well-known automobile retailer in China, providing automobile financing and leasing services. During the reporting period, the group actively responded to changes in the macroeconomic environment, promoted the growth of the automobile industry through the expansion of domestic demand and the promotion of consumption policies. In addition, the group officially launched automobile sales and export business in the first half of 2024, and continued to promote green and low-carbon production, fulfilling its social responsibility. The group did not declare interim dividends and was successfully listed on the main board of the Hong Kong Stock Exchange on November 9, 2023.