China MeiDong Reports Downturn in H1 2024 Earnings

China MeiDong Auto Holdings (HK:1268) has released an update.

China MeiDong Auto Holdings Limited reported a revenue decrease of 24.4% and a gross profit decrease of 19.4% for the first half of 2024 compared to the same period the previous year. The company also faced a loss of RMB22.9 million, impacted by a non-cash impairment of goodwill, intangible assets, and costs related to acquisitions. These financial challenges mirror a downturn in performance, contrasting with the profit reflected in the prior year’s corresponding period.

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