China High Speed Transmission Faces Profit Decline

China High Speed Transmission Equipment Group Co (HK:0658) has released an update.

China High Speed Transmission Equipment Group Co., Ltd. reported a decrease in revenue by 9.8% and gross profit by 22.7% for the six-month period ending June 30, 2024, compared to the same period last year. The company experienced a turn from a profit to a loss, with a basic and diluted loss per share of RMB 0.323, reflecting a challenging financial performance. Total assets increased by 5.8%, but the company’s net assets per share and gearing ratio both saw a decline.

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