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TONGRENTANGCM: Interim Report 2024
[Brokerage Focus] China Securities Co.,Ltd. (03613) maintains a "buy" rating for Tongrentangcm, indicating that overall performance is expected to gradually recover.
China Securities Co., Ltd. issued a research report, stating that Tongrentangcm (03613) achieved revenue of 0.665 billion Hong Kong dollars in the first half of 2024, a year-on-year decrease of 18.2%, and a net income of 0.22 billion Hong Kong dollars, a year-on-year decrease of 17.4%. The company's performance is under short-term pressure, mainly due to weak retail markets in Hong Kong and Macau, weak consumer spending power of residents and tourists, and a significant decline in sales revenue. In the second half of the year, with the gradual improvement of the consumption environment in Hong Kong, stable growth in overseas markets, and continuous volume growth in the mainland market, the overall performance is expected to gradually recover. The bank is bullish on the steady recovery of the company's operation in the second half of the year.
tongrentangcm (03613) fell 25.50%, now at 7.340 yuan, hitting a 52-week low.
As of 11:47, Tongrentangcm (03613) dropped 25.50% compared to the previous closing price, currently trading at 7.340 yuan, a new 52-week low; the volume was 1.297 million shares, with a turnover of 9.5201 million Hong Kong dollars.
tongrentangcm (03613) released its interim results, with shareholders' net profit of 0.22 billion Hong Kong dollars, a decrease of 17.4% year-on-year.
tongrentangcm (03613) released its interim performance for the six months ending June 30, 2024, with the group achieving revenue...
TONGRENTANGCM: 2024 Interim Results Announcement
Tongrentangcm (03613.HK) plans to hold a board of directors meeting on August 30th to approve mid-term performance.
On August 16th, Gelonghui reported that the board of directors of tongrentangcm (03613.HK) announced that a meeting will be held on Friday, August 30, 2024 to approve the company and its subsidiaries' mid-year performance through June 30, 2024, and consider dividend distribution (if any).
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