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Autostreets Development Limited ( (HK:2443) ) just unveiled an update.
Autostreets Development Limited announced its audited consolidated annual results for the year ended December 31, 2024. The company reported a 16.9% decrease in revenues and an 18.4% drop in gross profit compared to the previous year. The loss for the year was RMB 110,562,000, a significant decline from the profit of RMB 9,269,000 in 2023. The adjusted net profit, a non-IFRS measure, also fell by 45.4%. Operationally, the number of used vehicles transacted and served decreased by 3.3%, with the used vehicle auction business seeing a slight increase, while value-added services and arrangements for sale experienced declines. These results reflect challenges in the used vehicle market and may impact the company’s market positioning and stakeholder interests.
More about Autostreets Development Limited
Autostreets Development Limited is a company incorporated in the Cayman Islands, operating primarily in the used vehicle industry. The company focuses on used vehicle auctions, value-added services, and arrangements for the sale of used vehicles.
YTD Price Performance: -25.35%
Average Trading Volume: 17,434,484
Technical Sentiment Signal: Strong Buy
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