Intercontinental Aerospace Hi-Tech Holding Group Limited (the 'Company') announces the unaudited interim financial results for the six months ended June 30, 2024. During the period, the Group's continuing operation business revenue was approximately RMB 148.0 million, a decrease of about 12.8% compared to the same period last year; gross profit was approximately RMB 15.8 million, an increase of about 23.3%. The Company's equity holders' loss attributable to the Company decreased from approximately RMB 87.3 million in the same period last year to approximately RMB 71.6 million. In May and June 2024, the Company raised funds through share subscription agreements, receiving net proceeds of approximately HKD 4.5 million and HKD 3.18 million, respectively, for general operating capital. In addition, the Company entered into a strategic cooperation agreement with the...Show More

Intercontinental Aerospace Hi-Tech Holding Group Limited (the 'Company') announces the unaudited interim financial results for the six months ended June 30, 2024. During the period, the Group's continuing operation business revenue was approximately RMB 148.0 million, a decrease of about 12.8% compared to the same period last year; gross profit was approximately RMB 15.8 million, an increase of about 23.3%. The Company's equity holders' loss attributable to the Company decreased from approximately RMB 87.3 million in the same period last year to approximately RMB 71.6 million. In May and June 2024, the Company raised funds through share subscription agreements, receiving net proceeds of approximately HKD 4.5 million and HKD 3.18 million, respectively, for general operating capital. In addition, the Company entered into a strategic cooperation agreement with the Egyptian National Space Agency, expecting to expand its presence in the aerospace market in Africa. The Board of Directors of the Company believes that, considering the expected cash flows and the above plans and measures, the Group will have sufficient operating capital to fulfill its financial obligations due in the next twelve months.