Summary by Moomoo AI
Mecom Power released its interim business performance for the six months ending on June 30, 2024, showing a 6.7% decrease in company revenue to 746.2 million Macanese patacas, a 55.3% decrease in gross margin to 47.5 million Macanese patacas, and a significant 79.1% decrease in net profit to 8.0 million Macanese patacas. The decrease in revenue is mainly due to the reduction in gross margin of the construction business and steel structure business, as well as the increased administrative expenses resulting from the expansion of the business. Despite this, the outstanding value of the unfinished contracts in the construction business and steel structure business has increased. Mecom Power stated that it will continue to expand its business scope and seek new growth drivers.