Ganglong China Property Group Limited (HK:6968) has released an update.
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Ganglong China Property Group Limited reported a significant downturn in their financial performance for the first half of 2024, with revenue falling by 28% and a net loss of RMB 154 million, a stark contrast to the net profit from the same period last year. The decrease in selling, marketing, and administrative expenses by 61% wasn’t enough to prevent the loss. Additionally, the company’s liabilities to assets ratio increased to 58%, up from 50% at the end of the previous year.
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