Tongda Group Holdings Ltd. Reports 16.8% Revenue Decline to HK$2,483.2 Million and 395.3% Increase in Profit to HK$63.4 Million for H1 2025
Reuters
Sep 11
Tongda Group Holdings Ltd. Reports 16.8% Revenue Decline to HK$2,483.2 Million and 395.3% Increase in Profit to HK$63.4 Million for H1 2025
Tongda Group Holdings Ltd. has released its interim report for the six months ended 30 June 2025. The Group reported a total revenue of HK$2,483.2 million, a decrease of 16.8% from HK$2,986.0 million in the same period last year. The profit attributable to owners of the company increased significantly by 395.3%, from HK$12.8 million in the previous year to HK$63.4 million for the period. The decrease in revenue is attributed to the impact of intense market competition and the disposal of the high-margin, high-precision components business. This disposal led to a decline in both gross profit and gross profit margin. However, the impairment of fixed assets at the end of 2024 resulted in a substantial decrease in depreciation expenses, partially offsetting the negative impact on profits. Excluding the revenue contribution from the disposed business, the Group's revenue for the period slightly decreased by 0.5% compared to the adjusted revenue for the previous period. No specific outlook or guidance was provided in the interim report.
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