Huasheng International Faces Revenue Drop Amid Market Slowdown

Huasheng International Holding Limited (HK:1323) has released an update.

Huasheng International Holding Limited reported a significant decline in revenue and a net loss of approximately HK$24.4 million for the six months ending September 2024, largely due to weak demand in the PRC’s real estate market affecting their Concrete Business. The company’s revenue fell by 34.3% compared to the same period last year, with the Concrete Business making up 97.2% of total revenue. The slowdown in construction and tough business conditions in China have been major challenges for the company’s financial performance.

For further insights into HK:1323 stock, check out TipRanks’ Stock Analysis page.