China Silver Group Ltd. (HK:0815) has released an update.
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China Silver Group Ltd. reported a decrease in revenue by 17.2% in the first half of 2024 compared to the same period in 2023, but saw net profits rise by 27.2% due to higher silver prices and improved cost control in its Manufacturing segment. Despite a drop in sales volume, the company’s New Jewellery Retail segment, operated by CSMall, shifted from a net loss to a net profit, buoyed by stronger silver product sales. However, this was somewhat counteracted by losses in the Fresh Food Retail segment and an impairment loss on goodwill.
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