Summary by Moomoo AI
Techlink Holdings Limited (the "Company") announced its unaudited interim results for the six months ended June 30, 2024. The report shows that the company's revenue decreased from $8,764 million in the same period last year to $7,368 million, gross profit decreased from $7,588 million to $6,229 million, and profit for the period decreased significantly from $2,024 million to $338 million. The increase in financial costs, the increase in expected credit losses for trade receivables, and the promotional measures introduced in response to intensified competition are the main reasons for the decline in profit. The company's cash and cash equivalents decreased from $21,814 million to $16,670 million. Techlink Holdings stated that it will continue to optimize and upgrade its Adorado and Powershopy platforms, and seek strategic cooperation and investment opportunities to maintain business growth. The board of directors does not recommend the payment of any interim dividends for this period.