Red Star Macalline Group Corporation Ltd Class H (HK:1528) has released an update.
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Red Star Macalline Group Corporation Ltd has reported a total profit decrease of RMB546,626,838.75 for the first half of 2024, due to provisions for impairment of various assets amounting to RMB550,953,133.98, alongside reversals and write-offs totaling RMB747,315,927.70. The company conducted impairment tests and recognized loss allowances based on expected credit losses. These financial maneuvers reflect the company’s efforts to address potential asset devaluation and maintain fiscal health.
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