Summit Ascent (00102.HK) announced a profitable performance, expecting to turn losses into profits for the six-month period ending on June 30, 2024, with a profit of approximately 5.8 million yuan, while in the same period of 2023, it recorded a loss of approximately 16.1 million yuan. This was mainly due to the increase in revenue from gambling and hotel business during the period; the volatility of the Russian ruble led to a reduction in exchange losses; and the impairment of some buildings, operating rights, and leased properties in 2023 resulted in reduced depreciation and amortization in the first half of this year.

Trading in the shares of Summit Ascent has been suspended on the Stock Exchange since February 14 this year, and will continue to be suspended until the company complies with all resumption guidelines, remedies the issues that led to the suspension, and fully complies with the listing rules to gain acceptance from the Stock Exchange.