MEGAIN Holding Reports Steep Decline in Mid-Year Profits

MEGAIN Holding (Cayman) Co. Ltd. (HK:6939) has released an update.

MEGAIN Holding (Cayman) Co., Ltd. has reported a significant downturn in its financial performance for the first half of 2024, with revenue dropping by 24.5% and profit plummeting by 97.3% compared to the same period last year. The company’s revenue fell to approximately RMB 65.73 million down from RMB 87.06 million, while profits slumped to around RMB 405,000 from RMB 14.93 million. No interim dividend will be paid for this period, reflecting the company’s more cautious financial approach amid its decreased earnings.

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