China National Culture Group Reports Major Losses

China National Culture Group Limited (HK:0745) has released an update.

China National Culture Group Limited reported a significant loss for the fiscal year ending March 31, 2024, with the company’s losses increasing to HK$43,668,000 from the previous year’s HK$1,498,000. The substantial loss is primarily due to increased impairment losses on receivables and other financial losses. This downturn reflects a challenging financial period for the group, with a dramatic decline in both revenue and gross profit compared to the previous year.

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