CSMall Group Limited (HK:1815) has released an update.
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CSMall Group Limited projects a lower net loss for the first half of 2024 compared to the same period last year, anticipating a loss between RMB 8 million and RMB 13 million versus last year’s RMB 15 million. This expected improvement is credited primarily to the company’s jewellery retail segment, which saw a shift in sales from gold to more profitable silver products. However, this positive impact is somewhat offset by a decrease in sales and expected goodwill impairment in their fresh food retail segment, alongside a higher provision for impairment losses.
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