Tang Palace (China) Holdings Limited (HK:1181) has released an update.
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Tang Palace (China) Holdings Limited reported a decrease in revenue by 10.4% and a significant drop in profits for the first half of 2024 compared to the same period in 2023, with earnings per share plummeting from 3.86 RMB cents to just 0.31 RMB cents. Moreover, the number of self-owned restaurants decreased from 37 to 33, reflecting the company’s operational downsizing.
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