SIM Technology Group Faces Revenue Decline Amid Competition

SIM Technology Group (HK:2000) has released an update.

SIM Technology Group reported a 6% decline in total revenue for October 2024 compared to the previous month, primarily due to slower deliveries in its core business sectors. Year-over-year, the company’s core business revenue saw a significant 13.5% drop, reflecting challenges from customer order adjustments. Over the first ten months of 2024, overall revenue plummeted by 26.1% as intensified industry competition weighed heavily on the company’s financial performance.

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