Summary by Futu AI
Mecom Power released its interim results for the six months ended June 30, 2024, showing a 6.7% decrease in company revenue to 746.2 million Macanese patacas, a 55.3% decrease in gross margin to 47.5 million Macanese patacas, and a significant 79.1% decrease in net profit to 8.0 million Macanese patacas. The decrease in revenue is mainly due to the decrease in gross margin of the construction business and steel structure business, as well as the increase in administrative expenses due to business expansion. Nevertheless, the value of outstanding unfinished contracts for the construction business and steel structure business has increased. Mecom Power stated that it will continue to expand its business scope and seek new growth drivers.