BBMG Corporation Faces Major First-Half Losses

BBMG (DE:9BM) has released an update.

BBMG Corporation reported a significant downturn in its financial performance for the first half of 2024, with operating revenue dropping by 7.3% and a switch from a net profit of RMB14.7 million in the previous year to a net loss of RMB1,749.5 million. The company also experienced a sharp decline in gross profit margin and basic losses per share, prompting the Board to decide against issuing an interim dividend.

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