XXF Group Holdings Ltd. (HK:2473) has released an update.
XXF Group Holdings Ltd. reports an increase in revenue by 9.6% in the first half of 2024 compared to the same period in 2023, despite a significant drop in profit before income tax and profit for the period, which decreased by 58.5% and 68.7% respectively. The automobile retailer and finance lease company cites a challenging macroeconomic environment but acknowledges policy-driven consumption growth and a recovering national economy in the PRC as positive economic drivers. Notably, the company’s adjusted net profit, a non-IFRS measure, saw a 7.8% increase.
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