China Tontine Wines Group ( (HK:0389) ) just unveiled an update.
China Tontine Wines Group Limited reported a significant decline in its financial performance for the six months ending June 30, 2024. The company’s revenue decreased by approximately 26% compared to the same period in 2023, and it faced a substantial increase in losses, with a total comprehensive expense of approximately RMB260,872,000, up from RMB1,619,000 in the previous year. This downturn is attributed to various impairment losses on biological assets, inventories, and property, plant, and equipment, highlighting challenges in the company’s operational and financial stability.
More about China Tontine Wines Group
China Tontine Wines Group Limited is a company incorporated in Bermuda, primarily engaged in the wine industry. It focuses on the production and distribution of wines, with its operations listed on the Hong Kong Stock Exchange under the stock code 389.
YTD Price Performance: 1.43%
Technical Sentiment Signal: Buy
Current Market Cap: $16.71M
See more data about 0389 stock on TipRanks’ Stock Analysis page.