Summary by Moomoo AI
yadea faced challenges in the first half of 2024, with a temporary downturn in market demand, resulting in a 15.4% decrease in revenue compared to the same period last year to 14,413.8 million yuan. Nevertheless, the gross margin of the company increased from 16.9% to 18.0%, indicating a positive trend in sales volume. The company is actively responding to the strengthened government regulations on electric two-wheeler vehicles, and continues to invest in new technology research and overseas market expansion. On June 30, 2024, the company completed the acquisition of Wuxi Lingbo Electronic Technology Co., Ltd., further expanding its business scope. During the period, the company did not declare a mid-term dividend, and maintained good corporate governance. As of June 30, 2024, the company's cash and cash equivalents amounted to RMB 706.76 million, a decrease of approximately 10.7% from the end of the previous year.