On November 29, Cassava Res (00841.HK) announced that for the six months ended September 30, 2024, the group's revenue from purchasing and selling dried cassava chips was approximately 0.438 billion Hong Kong dollars, a decrease of about 47.8% year-on-year. The group's revenue decline was mainly due to the decrease in sales volume and average selling price of dried cassava chips. The group's loss was about 9 million Hong Kong dollars (2023: profit of about 16.4 million Hong Kong dollars). Loss per share attributable to the company's owners was 1.5 Hong Kong cents per share.

During this period, the high interest rate environment continued to cause significant damage to the global economy, with China's mainland export industry severely depressed. Mainland Chinese industrial and commercial enterprises continue to slow down, with consumer confidence significantly weakening. On the other hand, due to the impact of the debt crisis of mainland real estate developers, it is expected to be difficult to resolve in the short term, further deteriorating the economic situation.