J-Long Group Limited (JL) has released an update.
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J-Long Group Limited, a Hong Kong-based distributor of garment trims, reported a significant revenue decline of 34.9% to US$14.6 million for the first half of 2024 and a corresponding net income decrease to US$1.4 million. The drop in revenue is mainly attributed to reduced sales of heat transfers, although this was slightly offset by an increase in sales of other products. Despite the downturn, the company has no off-balance sheet arrangements and maintains a stable working capital ratio and gearing ratio, indicating a steady financial position.
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