China Modern Dairy Holdings Ltd. (HK:1117) has released an update.
China Modern Dairy Holdings Ltd. anticipates a net loss of RMB 180 million to RMB 240 million for the first half of 2024, contrasting with a net profit in the same period the previous year. Despite the expected loss, the company projects a significant increase in cash EBITDA, indicating resilience in a tough market. The loss is attributed to strategic adjustments in herd size and lower market prices for eliminated cows, while cost-saving measures and efficiency improvements are being implemented to bolster future development.
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