Shares of C-MER Medical Holdings Ltd. (HKG:3309) plummeted by over 10% in intraday trading on September 2, 2024, despite the company reporting modest growth in its first-half 2024 financial results.
The Hong Kong-based medical device company posted a 3.4% year-over-year increase in net income to HK$30.8 million for the first half of 2024. However, revenue declined by 2.9% to HK$922.5 million compared to the same period last year.
Despite the slight improvement in profit margin, driven by lower expenses, the market appeared to react negatively to the tepid revenue growth and the overall financial performance, which fell short of expectations.
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