Hongli Group Reports Significant Mid-Year Loss

Hongli Group, Inc. (HLP) has released an update.

Hongli Group Inc. has reported a net loss of $1.9 million for the first half of 2024, a stark contrast to the $796,354 net income from the same period the previous year. The company’s total assets marginally increased to $32.7 million from $32.1 million, while total liabilities rose to $12 million from $11 million. This financial downturn is reflected in a comprehensive loss of $2.4 million and a negative earnings per share of $0.15.

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