EZGO ANNOUNCES FINANCIAL RESULTS FOR THE SIX MONTHS ENDED MARCH 31, 2024 [Yahoo! Finance]
EZGO Technologies Ltd. - Ordinary Shares (EZGO)
Company Research
Source: Yahoo! Finance
transportation solutions provider in China , today announced its unaudited financial results for the six months ended March 31, 2024 Financial Highlights ( all results compared to the prior fiscal year period unless otherwise noted Revenues were $8.6 million , an increase of 66.1% Units sold of e-bicycle reached 4,766, a decrease of 76.7% Units sold of batteries and battery packs reached 243,336, an increase of 2614.6% Gross margin was 5.7%, compared with 3.5% Net loss was $4.7 million , compared with $5.0 million The Company has cash and cash equivalents of approximately $0.7 million at March 31, 2024 , compared to approximately $17.3 million at September 30, 2023 Management Commentary During the six months ending on March 31, 2024 , due to the continuous decline in upstream raw materials price of lithium batteries, the penetration rate of lithium batteries in the e-bicycle industry gradually increased, and the sales volume of lithium batteries through various chann
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