Garden Stage Ltd. (GSIW) has released an update.
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Garden Stage Limited reported a 36.39% decrease in revenue and a 33.61% increase in net loss for the first half of fiscal year 2024, attributed to reduced brokerage commissions and underwriting income, as well as a drop in investment management fee income. Despite a reduction in expenses, the offshore holding company, which provides financial services in Hong Kong, experienced an overall decline in financial performance. The company also completed its IPO on December 1, 2023, with ordinary shares listing on the Nasdaq.
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