Ko Yo Group (00827.HK) announced on August 5th that the group is expected to record a loss of approximately RMB 129,700,000 for the six months ending on June 30, 2024, an increase of approximately RMB 26,900,000 compared to the loss of approximately RMB 102,800,000 in the same period last year.
The main reason for the increase in the group's losses is the decrease in the gross margin of the group's products due to the rise in natural gas prices. The average gross margin of the group's products for the six months ending on June 30, 2024 is expected to be about 5.5%, while the average gross margin for the same period last year was about 8.8%.
