Summary by Futu AI
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