Artgo Holdings Reports Revenue of RMB 27,805,000 with Loss Before Tax of RMB 24,202,000 for H1 2025

Reuters
Sep 12
Artgo Holdings Reports Revenue of RMB 27,805,000 with Loss Before Tax of RMB 24,202,000 for H1 2025

ArtGo Holdings Ltd. has released its interim financial results for the first half of 2025, reporting a segment revenue of RMB27.805 million. The company faced a loss before tax of RMB24.202 million, reflecting the challenging economic environment during this period. Foreign exchange losses amounted to RMB6 million, and finance costs, excluding lease liabilities, were RMB7.363 million. A notable positive was the waiver of loan principals and interest from loan restructuring totaling RMB8.071 million. The company attributed a significant portion of its other income and gains to a government subsidy of approximately RMB1.7 million. Selling and distribution expenses were reduced to approximately RMB3.2 million, accounting for about 10.5% of the revenue, a decline from RMB3.8 million or 13.8% of revenue in the same period last year. ArtGo Holdings acknowledged the weak domestic demand and sluggish recovery in the real estate construction sector as factors hindering growth. However, it noted some positive outcomes from the PRC government's stimulus measures and real estate reforms. The company is adopting a prudent strategy, focusing on monitoring the business environment and resource allocation.

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