China Shenghai Group Reports Narrowed Annual Loss

China Shenghai Group Limited (HK:1676) has released an update.

China Shenghai Group Limited, previously known as Gaodi Holdings Limited, has released its annual financial results for the year ended June 30, 2024, showing a net loss of RMB 79,931,000, a significant improvement from the previous eighteen-month period’s net loss of RMB 151,462,000. The revenue for the year stands at RMB 354,863,000 compared to RMB 530,207,000 in the prior period, reflecting a challenging economic environment. Despite the loss, the company has managed to reduce its total comprehensive expenses, indicating a potential stabilization in its financial performance.

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