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CENT UNIT HLDG: Interim Report 2024
Car dealers/auto retailers sector facing survival crisis: the bitter fruit of trading price for volume, the transformation path still needs to be examined.
Under multiple squeezes, it's a matter of life and death.
cent unit hldg (01959.HK) mid-term gross margin decreased to only about 1.5%.
Century Union Holdings Limited (01959.HK) announced on August 28th that the group's income for the six months ending June 30, 2024 was approximately RMB 7.38 million, an increase of approximately 1.1% year-on-year. The gross margin decreased from approximately 4.6% to approximately 1.5%. The loss attributable to owners during the period was approximately RMB 5.24 million, compared to approximately RMB 2.76 million in the same period last year.
CENT UNIT HLDG: INTERIM RESULTS ANNOUNCEMENT FOR THE SIX MONTHS ENDED 30 JUNE 2024
Century United Holdings (01959.HK) announced a loss of 53 million RMB for the first half of the year in the warning report.
Cent Unit Hldg (01959.HK) issued a profit warning, with an expected net loss of approximately CNY 53 million for the six months ending in June compared to CNY 28.1 million in the same period last year after tax. Due to the impact of the macro economy, the purchasing power of consumers decreased and the price war in the automobile market intensified, eventually leading to a decrease in car sales and thus a decline in the group's gross profit. The first-half revenue is expected to be approximately CNY 0.738 billion.
Century Union Holdings (01959.HK) issued a profit warning: expected mid-term comprehensive after-tax loss of 53 million yuan.
On August 16, Growatt reported that Cent Unit Hldg (01959.HK) expects to record revenue of approximately RMB 738 million for the six months ending June 30, 2024, which is basically the same as the approximately RMB 730.3 million recorded for the six months ending June 30, 2023. The group is expected to record a comprehensive after-tax loss of approximately RMB 53 million for the six months ending June 30, 2024, while a comprehensive after-tax loss of approximately RMB 28.1 million was recorded for the six months ending June 30, 2023. The announcement stated that the decline in financial performance was mainly due to macroeconomic factors.
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