Ming Yuan Cloud Group Holdings Limited (HK:0909) has released an update.
Ming Yuan Cloud Group Holdings Limited reported a decrease in revenue and profit for the first half of 2024, with revenue down by 5.5% and a significant reduction in losses, indicating a strong improvement in cost control. The company’s adjusted net loss dropped by 82.5%, and operational cash outflow decreased by 39.1%. The broader market context includes declining commercial housing sales and investment in China, though policy changes spurred a slight uptick in June 2024.
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