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Improved Revenues Required Before Modern Chinese Medicine Group Co., Ltd. (HKG:1643) Stock's 26% Jump Looks Justified
MODERN CHI MED: 2024 INTERIM REPORT
Modern Chinese Medicine Group Swings to Loss in H1
The mid-year earnings of Modern Traditional Chinese Medicine Group (01643.HK) are approximately 76.6 million yuan, a year-on-year decrease of about 57.5%.
Glory Holdings announced on August 22 that in the interim performance for the six months ending June 30, 2024, the revenue was approximately RMB 76.6 million, a year-on-year decrease of approximately 57.5%. The company's owners' losses amounted to RMB 6.9 million during the period, while a profit of RMB 27.6 million was recorded in the same period. Basic and diluted (loss) / earnings per share changed from a profit of 4.6 cents in the same period to a loss of 1.14 cents in the current period. The decrease in revenue was mainly due to the temporary suspension of production in the preparation workshop for renovation. The kidney-nourishing pill and the qi-blood double-nourishing pill are the two major products for the current period and the same period.
Express News | Modern Chinese Medicine Group H1 Gross Margin 28.3%
Express News | Modern Chinese Medicine Group H1 Revenue RMB 76.6 Million
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