Autostreets Development Limited (HK:2443) has released an update.
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Autostreets Development Limited reported a decline in revenue and gross profit for the first half of 2024 compared to the same period in 2023, with revenue falling by 15.5% and gross profit by 14.8%. Despite a slight increase in gross profit margin and the number of used vehicles transacted, the company faced a significant loss, which surged by 307.8% from the previous year. An adjusted net profit figure, however, suggests a narrower decline of 34.9% after excluding certain non-cash charges and one-off expenses.
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