Summary by Moomoo AI
Apollo Smart Mobility Group's revenue for the fiscal year 2024 increased by 21.8% to 0.34 billion HKD, but due to asset impairment and investment fair value losses, the annual loss widened to 1.54 billion HKD. The revenue growth primarily came from the completion of the delivery of the last two Apollo IE supercars and increased sales of Jewelry Watches, but the gross margin declined to 4.6% due to changes in product structure.During the year, the group completed several significant financing activities, including two share placements and the issuance of 0.3 billion HKD convertible bonds, and reached an agreement to sell approximately 12.87% equity in Divergent for a total consideration of about 0.793 billion HKD. The funds raised will primarily be used to accelerate the research and...Show More
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