China Metal Resources Utilization Ltd. (HK:1636) has released an update.
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China Metal Resources Utilization Ltd. reported a significant revenue decline of 65% to RMB837.7 million for the year ended December 31, 2023, alongside a deepening gross loss margin of 13.4%. The company also noted a substantial decrease in both provision for doubtful debts and impairment for advance payment to suppliers. Despite these reductions, the firm posted a considerable loss of RMB805.8 million, although this was less than the prior year’s loss of RMB4,763.2 million.
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