Summary by Moomoo AI
Genting Xinyao Limited (the "Company") announces its unaudited interim results for the six months ended June 30, 2024. During the period, the Company recorded revenue of RMB 301.5 million, with a gross margin increasing from 62.7% in the same period last year to 76.6%. Research and development expenses decreased compared to the same period last year, amounting to RMB 253.2 million. The net loss for the period was RMB 632.4 million, an increase from the same period last year. As of June 30, 2024, the Company had cash and cash equivalents and time deposits of RMB 1,925.5 million. No dividends were paid by the Company during the reporting period. The Chairman and Executive Director of the Company, Mr. Fu Wei, Executive Directors Mr. Luo Yongqing and Mr. He Ying, Non-executive Directors Mr. Cao Jizhe and Mr. Feng Honggang, as well as Independent Non-executive Directors Ms. Xu Haiyin, Mr. Li Yifan, and Mr. Jiang Shidong.