Summary by Moomoo AI
Comtec Solar Group Limited ("Comtec Solar") announced its interim performance for the six months ending on June 30, 2024. During the period, the company's revenue increased significantly by 462% to approximately RMB 86.7 million, but gross profit decreased by 25.4% to approximately RMB 36 million. The company incurred a net loss of approximately RMB 25.3 million, mainly due to the absence of one-time net income from the sale of Shanghai investment properties in the same period of the previous year. The loss per share was RMB 2.50. Despite the loss, the company's financial position improved, with a reduction in total liabilities and the debt-to-asset ratio decreasing from 2.5 to 2.1. The company continues to invest in new energy storage technologies, including flywheel energy storage and lithium iron phosphate mixed energy storage systems, and collaborates with new investors through stock subscription activities. The company also plans to acquire a logistics cloud technology platform company to enhance its business and profitability. The board of directors did not declare an interim dividend.
