On August 29, Guangdong Ganglong Culture and Technology Co., Ltd. (01617.HK) announced that its total revenue for the six months ended on June 30, 2024, decreased by approximately 3.0% to approximately CNY 0.257 billion; the company recorded a total profit and comprehensive income of approximately CNY 5.5 million (for the six months ended on June 30, 2023: approximately CNY 2.1 million). During the reporting period, the earnings per share was approximately CNY 0.003 (for the six months ended on June 30, 2023: approximately CNY 0.001).

Looking ahead to the second half of 2024, the development of the optical fiber and cable industry will continue to benefit from technological progress and the support of national policies, and it is expected to maintain a growth trend with sustained good market prospects and development opportunities. Taking into account the impact of the demand for optical cables in both domestic telecom operators and non-operators markets, as well as factors such as the recovery of inventory cycles for overseas operators to normal levels, the demand for optical cables is expected to gradually recover.

While stabilizing and expanding the market share of the telecommunications operators in the optical fiber and cable market, the Group will also increase investment in the non-operators market. Actively seeking opportunities for product research and development that are suitable for market development and new demands, and committed to continuously optimizing the product structure, the Group will also continue to strengthen its control over raw material prices, thereby enhancing the company's cost control to improve its competitiveness and profitability.