China Yongda Automobiles Services (HK:3669) has released an update.
China Yongda Automobiles Services Holdings Limited reported a decrease in revenue and net profit for the first half of 2024, with revenue dropping by 13% and net profit plummeting by 76.1% compared to the same period last year. Despite the overall decline, repair and maintenance related revenue saw a slight increase. The company’s performance comes amidst a competitive domestic vehicle market with a significant growth in new energy vehicle sales and a steady increase in pre-owned vehicle transactions in China.
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