China Weaving Materials Holdings Ltd. (HK:3778) has released an update.
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China Weaving Materials Holdings Ltd. announced a decrease in its consolidated net loss to approximately RMB3.0 million for the first half of 2024, down from a loss of RMB9.6 million in the same period last year. This improvement is attributed to higher revenue and gross profit margins from the Group’s yarn products, driven by favorable market conditions and a strategic shift towards higher-end offerings. Investors are cautioned to exercise care when trading the company’s shares.
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