Solargiga Reports Significant Mid-Year Losses

Solargiga Energy Holdings (HK:0757) has released an update.

Solargiga Energy Holdings Limited has reported a substantial swing to a loss, posting a six-month unaudited interim loss of RMB 101,719,000 for the period ending June 30, 2024, a stark contrast to the profit of RMB 127,146,000 in the same period last year. The company’s revenue has almost halved, and despite a reduction in expenses, it was not enough to prevent the downturn. This financial dip comes amid a backdrop of rising finance costs and impairment losses.

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