Ebang reports 1H EPS (99c) vs. ($1.25) last year

Reports 1H revenue $2.11M vs. $3.38M last year. Dong Hu, Chairman and Chief Executive Officer of the Company, commented, “Our financial results for the first half of 2024 reflect our continuing efforts to transition our business while we expand our products and services into industries that we believe will be supported by our existing core technologies, R&D expertise and manufacturing capacity. We are pleased with the progress that we have been able to make, particularly as we have faced and will continue to face challenges from macroeconomic conditions, policy changes, market fluctuations, evolving or shifting trends, and competition within the industry, that contributed to both highlights and downturns in our financial performance. We have been reflecting on our strengths and core competencies and experience in design, R&D and manufacturing and determined that there was an unmet need in the renewable energy space for us to exploit, where we aim to integrate cutting-edge technology into this market, with a particular focus on advanced solar cell manufacturing.”