Summary by Moomoo AI
Cansino Biologics Inc.'s financial report for the six months ended June 30, 2024, shows a significant increase in revenue compared to the same period last year, but still recorded an operational loss. The loss during the period is mainly due to the increase in the cost of goods sold. In addition, the company lost control of the subsidiary Kangxinuo during the reporting period, reclassifying it as an affiliated company. The company also faces litigation in Brazil, but management believes it is unlikely to be required to pay any financial compensation. As of June 30, 2024, the company's primary operating assets are located in mainland china and Hong Kong.
