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Intelligent Living Application Group Incorporation ( (ILAG) ) has issued an announcement.
Intelligent Living Application Group Inc. announced a significant revenue increase of 131.1% to $4,473,031 for the first half of 2024 compared to the same period in 2023. The company’s gross profit saw an astonishing rise of 5728.7%, while the net loss decreased by $571,214. This growth was attributed to expanded marketing efforts and a recovering US economy, despite challenges like high interest rates and a slow real estate market. The company plans to enhance its product mix and launch new smart locks to boost sales and performance. It also faces increased selling and marketing expenses due to higher research and transportation costs but managed to reduce general and administrative expenses by nearly 40%.
More about Intelligent Living Application Group Incorporation
Intelligent Living Application Group Inc., headquartered in Hong Kong and listed on Nasdaq, specializes in manufacturing and distributing premium locksets. The company is focused on providing high-quality, affordable locksets and smart security systems, primarily targeting the US market. With a history spanning over 40 years, Intelligent Living leverages automated product lines and craftsmanship to offer a diverse range of products with various functions, designs, and colors.
YTD Price Performance: 33.33%
Average Trading Volume: 26,464
Technical Sentiment Consensus Rating: Sell
For an in-depth examination of ILAG stock, go to TipRanks’ Stock Analysis page.
