Cathay Media and Education Group Inc. (HK:1981) has released an update.
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Cathay Group Holdings Inc. announces a positive profit alert, expecting to report a profit of over RMB 50.0 million for the first half of 2024, a significant turnaround from the previous year’s loss of RMB 109.9 million. The improvement is attributed to decreased impairment losses in their TV/film production and increased revenue from their new livestreaming e-commerce and artist management business. Investors are cautioned that these are preliminary unaudited figures and to await the official interim results announcement on August 29, 2024.
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