China Qinfa Group Ltd. (HK:0866) has released an update.
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China Qinfa Group Ltd reported a significant decrease in revenue and profits for the first half of 2024, with revenue dropping by 27.9% and profit after taxation falling to RMB 60.8 million from RMB 140.1 million compared to the same period last year. The company experienced declines in both coal handling and trading volume as well as commercial coal production volume. Despite the downturn, gross profit margin improved due to lower cost of sales, but no interim dividend will be paid for this period.
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