Marco Digital Technology (01942) announced interim results. Profit attributable to shareholders of 1.339,000 yuan decreased by 96.73% year-on-year

According to the Zhitong Finance App, Marco Digital Technology (01942) announced interim results for the six months ended June 30, 2024. The group achieved revenue of 613 million yuan (RMB, same below) during the period, a year-on-year decrease of 30%; profit attributable to shareholders was 1.339,000 yuan, a year-on-year decrease of 96.73%; and basic profit per share was 0.002 yuan.

According to the announcement, the decline in earnings was mainly due to a sharp decline in sales volume in the digital retail and payment solutions trading business due to a strategic shift in the group's business direction; and the increase in credit risk related to loans in the wholesale and retail trade sector led to a decrease in the group's revenue from financial services, leading to a decrease in revenue from the digital retail and payment solutions trading business.