Weihong Group Holdings (03321) announced interim results. Loss of MOP 58.582 million during the period increased by 630.18% year-on-year

According to the Zhitong Finance App, Weihong Group Holdings (03321) announced interim results for the six months ended June 30, 2024. The group achieved profit of MOP 6.126 million during the period, a year-on-year decrease of 89.52%; loss of MOP 585.82 million during the period, an increase of 630.18% over the previous year; and a basic loss of MOP 11.6 per share.

According to the announcement, for the six months ended June 30, 2024, the Group's gross margin was approximately 2.9% (2023:3.5%). The decrease in gross margin over the same period was mainly due to projects that confirmed lower gross margins during the period.