China Silver Group Ltd. (HK:0815) has released an update.
China Silver Group Limited anticipates a net profit increase for the first half of 2024, projecting earnings between RMB18 million to RMB23 million, up from RMB16.2 million in the same period of the previous year. This expected rise is largely due to higher silver prices and cost controls in their manufacturing segment, along with a profitable shift from gold to silver product sales in their new jewellery retail sector. However, these gains are somewhat offset by losses in discontinued operations, reduced fresh food retail sales, and increased impairment losses.
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