gd-hkgba hldgs (01396) released its interim performance for the six months ending June 30, 2024, and the group achieved...
According to the announcement, the group's revenue decreased by 46.95% to RMB 0.862 billion for the six months ending June 30, 2024 (in the same unit). The attributable loss to equity shareholders of the company increased by 56.02% to RMB 1.028 billion, with a loss per share of 218.6 points.
The announcement stated that the main reason for the decrease in revenue was the unfavorable operating environment for the trade business, resulting in a significant decline in trading volume. At the same time, the group's operating model for the trade business has changed. In order to reduce the risks of the trade business, the group has switched from operating as the main entity to operating as a trade agent. Therefore, the trade business is not recognized as a total amount in revenue starting from this period, but is recognized as a net amount in other income.
