Zhengwei Group Posts Higher Revenue but Net Loss

Zhengwei Group Holdings Company Limited (HK:2147) has released an update.

Zhengwei Group Holdings Company Limited reported a significant revenue increase of 55.5% to RMB 298.1 million for the first half of 2024, compared to the same period last year. However, the company faced a downturn with a net loss of RMB 40.6 million, in stark contrast to the RMB 29.7 million net profit of the previous year. The period also saw a drastic drop in gross profit by 98.3%, amounting to only RMB 1.1 million.

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