Summary by Moomoo AI
South Manganese Investment Limited (South Manganese) faced challenges in the first half of 2024, with a 25.9% decrease in revenue compared to the same period last year, amounting to 5,733.3 million Hong Kong dollars. The company's main business includes manganese ore mining and downstream processing, with the average selling price of electrolytic metal manganese products falling by 15.8% and also a decrease in gross margin. Nevertheless, the company continues its geological exploration work in the Bembélé manganese mine in Gabon, and carries out a capacity-expansion project of 1,000,000 tons/year in the Daxin manganese mine. The company strictly adheres to safety production and labor standards, and is committed to eco-friendly and social responsibility activities. As of June 30, 2024, the company has not purchased, redeemed, or sold any listed securities.
