Gangyu Reports Profit Surge Amid Revenue Shift

Orient Victory Travel Group Company Limited (HK:0265) has released an update.

Gangyu Smart Urban Services Holding Limited reported a slight 1.2% decrease in revenue to HK$167.7 million for the first half of 2024, impacted by a shift in revenue streams and the expiration of an environmental hygiene contract. Despite the downturn in revenue, the company’s profit attributable to equity holders surged by 31.9% to HK$24.0 million, owing to a reduction in loss allowances and effective cost-cutting measures. No interim dividend was declared, consistent with the previous corresponding period.

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