New Provenance Everlasting Reports Significant Financial Loss

New Provenance Everlasting Holdings Limited (HK:2326) has released an update.

New Provenance Everlasting Holdings Limited announced a significant downturn in their financial performance for the six months ending September 2024, reporting a loss of HK$17.4 million compared to a profit of HK$496,000 during the same period last year. The company’s revenue dropped sharply, from HK$727.8 million to HK$291.9 million, highlighting a challenging market environment. Investors may find the company’s reversal of loss allowances on trade receivables noteworthy, although it wasn’t enough to offset the overall decline.

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