Summary by Futu AI
Puer Laan Cang Ancient Tea Co., Ltd. has announced its unaudited interim performance for the six months ended June 30, 2024, showing a decline in revenue, gross profit, and owner's profit. Revenue decreased from RMB 232.0 million in the same period of the previous year to RMB 195.1 million, a decrease of 15.9%; gross profit decreased from RMB 139.8 million to RMB 124.7 million, a decrease of 10.8%; owner's profit decreased from RMB 24.4 million to RMB 5.1 million, a decrease of 79.1%. Basic and diluted earnings per share also decreased from 0.39 yuan to 0.06 yuan. The company pointed out that the decline in performance is mainly due to slow recovery in terminal consumption and intensified industry competition, and mentioned that it will improve its operations through online sales and large customer channels. In addition, the company's shareholder meeting on August 7, 2024, approved the change in the use of some of the proceeds from the listing, with funds being invested in the new project "Shanquan Ancient Fermentation" to enhance production capacity.
