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An announcement from Santech Holdings ( (STEC) ) is now available.
Santech Holdings Ltd. announced its unaudited financial results for the first half of fiscal year 2025, ending December 31, 2024. The company reported a significant decline in net revenues from continuing operations to nil, compared to $17.4 million in the same period of 2023, due to its complete exit from overseas wealth management and asset management businesses. The company also reported decreased operating costs and expenses, with general and administrative expenses reduced by 4.3% due to ongoing cost-cutting and restructuring efforts. The exit from its historical businesses was completed in August 2024, resulting in the disposal of certain subsidiaries and a 72.1% decrease in revenues from discontinued operations.
More about Santech Holdings
Santech Holdings Ltd. is a Cayman Islands holding company operating through its subsidiaries in Hong Kong and the United States, focusing on consumer technology, consumer healthcare, and enterprise technology.
Average Trading Volume: 49,932
Technical Sentiment Signal: Sell
Current Market Cap: $26.32M
For detailed information about STEC stock, go to TipRanks’ Stock Analysis page.