Many Idea Cloud Reports Mixed Mid-Year Financials

Many Idea Cloud Holdings Limited (HK:6696) has released an update.

Many Idea Cloud Holdings Limited reported a significant increase in revenue for the first half of 2024, reaching RMB 839,263,000 compared to RMB 287,607,000 in the same period last year. Despite the rise in revenue, the company experienced a decrease in profit before income tax, which dropped to RMB 8,226,000 from RMB 23,259,000, and a decrease in net profit to RMB 7,167,000 from RMB 20,475,000. These financial results reflect the company’s growing sales, but also an increase in costs and expenses that have impacted overall profitability.

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