Venus Medtech (Hangzhou), Inc. Class H (HK:2500) has released an update.
Venus Medtech (Hangzhou) Inc. has reported a 9.7% decline in revenue and gross profit for the first half of 2024 compared to the same period in 2023, while also noting a significant reduction in loss before tax by 42.3% and a decrease in loss per share from RMB(0.80) to RMB(0.47). Despite the overall loss, the company saw an 85% increase in its non-IFRS commercialization profit and a 48.7% improvement in non-IFRS EBITDA, indicating some areas of financial progress amidst challenges.
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