Summary by Futu AI
Enstone Electric Vehicle New Materials Holdings Limited (the 'Company') announced its interim performance for the six months ended June 30, 2024. The Company and its subsidiaries (the 'Group') recorded a 38% decrease in revenue compared to the same period last year, amounting to approximately HKD 93.7 million. Revenue from graphene product business decreased by 36.7%, while revenue from landscape design business decreased by 40.5%. The Group's adjusted segment EBITDA decreased by 75.7%, amounting to approximately HKD 4.7 million. The Company's loss attributable to owners increased by 23%, amounting to approximately HKD 54.1 million. The Company's cash and bank balances decreased by 61.8%, amounting to approximately HKD 10.4 million. The Company's board of directors does not recommend the distribution of interim dividends. The Company focuses on the production of graphite anode materials and has formulated a five-year plan to invest in expanding production capacity, research and development, and new battery systems. The Company will continue to evaluate its ESG measures and seek to improve standards to enhance sustainability.