Wisdom Wealth Resources Reports 2.2% Revenue Decrease in H1 2024 Due to Trading Suspension Impact

Reuters
2025/07/01
Wisdom Wealth Resources Reports 2.2% Revenue Decrease in H1 2024 Due to Trading Suspension Impact

Wisdom Wealth Resources Investment Holding Group Limited reported its unaudited interim results for the six months ended June 30, 2024. The company recorded a revenue of approximately HK$215 million, showing a slight decrease of about 2.2% compared to HK$219.86 million in the corresponding period of 2023. This decline was primarily attributed to the impact of a winding-up petition and the suspension of trading of the company's shares, which affected the development of its trading and financial business segments. In addition, the property development and investment segment saw rental income from its Beijing properties fall to approximately HK$313,000 during the first half of 2024, down from HK$631,000 in the same period the previous year. The company also entered into an agreement on May 23, 2024, to dispose of the entire issued capital of Millhaven Holdings Limited, which held properties at the Rong Ning Yuan Community in Beijing. The board will reassess the development timeline and potential joint investment opportunities for its oilfield project, considering global energy prices and internal resource allocation. The company plans to issue further announcements to update shareholders on major developments related to ongoing litigations.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Wisdom Wealth Resources Investment Holding Group Limited published the original content used to generate this news brief on June 30, 2025, and is solely responsible for the information contained therein.

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