Summary by Moomoo AI
Net group (02147.HK) announced its interim financial report for the six months ended June 30, 2024. The report shows that the company's revenue increased by 55.5% compared to the same period last year, reaching approximately RMB 298.1 million, but the gross margin significantly decreased by 98.3% to approximately RMB 1.1 million. The net loss for the period was approximately RMB 40.6 million, compared to a net profit of approximately RMB 29.7 million in the same period last year, and the gross margin also decreased from 33.7% to 0.36%. The company stated that the increase in revenue was mainly due to the increase in sales of dried delicacies, seasonings, and other products, while the decrease in gross profit and gross margin was mainly due to the increase in direct material costs. In addition, the company completed a placement on May 14, 2024, issuing 160,000,000 new shares, with net proceeds of approximately HK$20.8 million. As of June 30, 2024, the total number of shares issued by the company was 960,000,000 shares.
