China Harmony Auto Holding Limited (HK:3836) has released an update.
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China Harmony Auto Holding Limited reported a mixed performance for the first half of 2024, with vehicle sales increasing by 8.7% to 19,100 units, yet facing a revenue decrease of 7.9% and a net loss of RMB74.7 million, in stark contrast to the net profit of RMB208.3 million in the same period last year. The decline in revenue and shift to a net loss highlights challenges in automobile sales, after-sales services, and car-related financial services. This development indicates a significant turnaround for the company, which may impact investor sentiment.
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