Graphex Group Faces Steep Financial Declines

Graphex Group Limited (HK:6128) has released an update.

Graphex Group Limited reported a significant downturn in their interim financial results for the first half of 2024, with a 38% drop in revenue and over 75% decrease in adjusted segment EBITDA compared to the same period last year. The company saw a 23% increase in losses attributable to owners, alongside a notable decline in cash and bank balances by 61.8%. These results reflect challenges across their graphene products and landscape architecture segments, as well as a complete cessation of their catering segment operations.

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