MingZhu Logistics Holdings Ltd (YGMZ.US) saw a 59.2% year-on-year decline in revenue in the first half of 2024, with net losses widening to $9.8 million.
The revenue for the six months ending June 30, 2024 was $22.9 million, a decrease of 59.2% from $56.1 million in the same period last year. The net loss for the six months ending June 30, 2024 was $9.8 million, a significant increase from a net loss of $0.9 million in the same period last year.
On Tuesday, data released by MingZhu Logistics Holdings Ltd (YGMZ.US) showed that the company's six-month revenue as of June 30, 2024 was $22.9 million, a 59.2% decrease from the same period last year which was $56.1 million; the company's six-month net loss as of June 30, 2024 was $9.8 million, a significant increase from a net loss of $0.9 million in the same period last year. Additionally, as of June 30, 2024, the company's cash and equivalents decreased to $1.3 million. As a result of this news, MingZhu Logistics Holdings Ltd's US stocks fell nearly 7% after hours on Tuesday.
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