Summary by Futu AI
The interim financial report of Innovative Wisdom Technology Group Co., Ltd. for the six-month period ended on June 30, 2024, shows that the company's revenue was RMB 571.7 million, a decrease of 38.1% from the same period last year. The gross margin increased to 33.8%, while the operating loss narrowed from RMB 211.0 million in the previous year to RMB 190.8 million. The loss for the period was RMB 184.6 million, a decrease of 5.9% from the previous year. The company recognized impairment losses of RMB 9,934,000 for intangible assets and RMB 9,646,000 for goodwill during the period. As of the end of the reporting period, the company's cash and cash equivalents amounted to RMB 1,332.9 million. In addition, the company announced after the reporting period that all shares granted under the 2023 stock-based incentive plan had lapsed, and the related payment expenses based on shares were accelerated for recognition. The company's shares were listed on the main board of the Hong Kong Stock Exchange on January 27, 2022.
