Shanghai Bio-Heart Biological Technology Co., Ltd. Class H (HK:2185) has released an update.
Shanghai Bio-Heart Biological Technology Co., Ltd. has reported a significant reduction in net loss for the first half of 2024, cutting losses by 70.2% to RMB28.3 million from RMB95.1 million in the same period last year. The company’s research and development expenses also decreased by 68.2%, and their cash reserves stand at RMB273 million, a 26.1% decrease from the end of 2023. This financial update shows a marked improvement in the company’s cost management and financial health.
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