Graphex Group (GRAPHEX GROUP) announced its mid-year report for 2024, showing a decline in both revenue and profit. During the reporting period, the company's revenue decreased from 151,274 thousand Hong Kong dollars in the same period last year to 93,742 thousand Hong Kong dollars, a 38.0% drop. The revenue from graphene products and landscape design businesses decreased by 36.7% and 40.5% respectively. The adjusted EBITDA of the company's divisions decreased sharply from 19,269 thousand Hong Kong dollars last year to 4,682 thousand Hong Kong dollars, a 75.7% decline. The attributable loss to the parent company owners increased from 43,968 thousand Hong Kong dollars last year to 54,096 thousand Hong Kong dollars, expanding by 23.0%. Total assets and shareholder equity decreased slightly by 0.9% and 10.9% respectively, with a significant 61.8% reduction in...Show More

Graphex Group (GRAPHEX GROUP) announced its mid-year report for 2024, showing a decline in both revenue and profit. During the reporting period, the company's revenue decreased from 151,274 thousand Hong Kong dollars in the same period last year to 93,742 thousand Hong Kong dollars, a 38.0% drop. The revenue from graphene products and landscape design businesses decreased by 36.7% and 40.5% respectively. The adjusted EBITDA of the company's divisions decreased sharply from 19,269 thousand Hong Kong dollars last year to 4,682 thousand Hong Kong dollars, a 75.7% decline. The attributable loss to the parent company owners increased from 43,968 thousand Hong Kong dollars last year to 54,096 thousand Hong Kong dollars, expanding by 23.0%. Total assets and shareholder equity decreased slightly by 0.9% and 10.9% respectively, with a significant 61.8% reduction in cash and bank balances. The company mentioned that the graphene product business will continue to focus on the deep processing of graphite, and is looking forward to the expansion plan in Laixi City, Shandong Province, China. The landscape design business saw a decrease in revenue due to the slowdown in the Chinese real estate market. The dining business has been fully suspended due to the impact of the pandemic. The company will focus on the development of graphene product business in the future and has no plans to resume the dining business.