Summary by Moomoo AI
HUASHENG INTL announced its interim results for the six months ending September 30, 2024. During this period, the group recorded a net loss attributable to owners of approximately 24.4 million HKD, significantly widening from 3.8 million HKD in the same period last year. Revenue dropped by 34.3% from 0.313 billion HKD last year to 0.206 billion HKD, mainly due to a 33.8% decline in income from concrete business to 0.2 billion HKD, with income from lending also decreasing by 46.8% to 5.7 million HKD.The group's gross margin decreased by 53.2% from 92.2 million HKD in the same period last year to 43.2 million HKD. The gross margin of the concrete business fell from 27.0% to 18.7%, primarily affected by rising raw material costs and weak demand leading to lower selling prices. Financing costs increased...Show More