Summary by Futu AI
Agape ATP Corporation reported Q2 2024 revenue of $313,039, a 3% increase from $303,935 in Q2 2023. For the first half of 2024, revenue decreased 7.7% to $631,682 from $684,703 in H1 2023. The company posted a net loss of $432,315 for Q2 2024, widening from a $379,449 loss in Q2 2023. For H1 2024, net loss expanded to $1,135,410 from $813,524 in H1 2023.Gross profit for Q2 2024 was $193,561, down slightly from $196,004 in Q2 2023. Operating expenses increased to $647,146 in Q2 2024 from $555,537 in Q2 2023, primarily due to higher general and administrative costs. The company's cash and cash equivalents stood at $3,160,984 as of June 30, 2024, down from $4,832,460 at the end of 2023.Agape ATP expanded into the renewable energy sector in early 2024, forming ATPC Green Energy Sdn Bhd as a wholly-owned subsidiary. The company continues to focus on health and wellness products, including supplements and wellness programs, while diversifying operations to adapt to global energy trends. Management did not provide specific guidance for future periods.