Mingzhu Reports Revenue For Six Months Ended June 30, 2023, Of $56.1M, Decrease Of 7.0% Y/Y; Net Loss Was $0.805M Vs Net Income Of $1.64M Last Year
Portfolio Pulse from Benzinga Newsdesk
Mingzhu reported a revenue of $56.1M for the six months ended June 30, 2023, marking a 7.0% decrease year-over-year. The company also reported a net loss of $0.805M compared to a net income of $1.64M in the previous year.
December 27, 2023 | 9:02 pm
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Mingzhu (YGMZ) reported a 7% decrease in revenue and a net loss for the first half of 2023, indicating potential challenges in profitability and growth.
The reported decrease in revenue and shift from net income to net loss are negative indicators for Mingzhu's financial health and may lead to a decrease in investor confidence and stock price in the short term.
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