Ming Yuan Cloud Group's H1 Loss Narrows; Directors Approve HK$500 Million Share Buyback

MT Newswires Live08-16

Ming Yuan Cloud Group Holdings (HKG:0909) attributable loss narrowed to 115.4 million yuan in the first half from 324.7 million yuan in the year-ago period, according to a Thursday filing with the Hong Kong Stock Exchange.

Loss per share at the software company narrowed to 0.06 yuan from 0.18 yuan in the previous year.

Revenue fell to 720.1 million yuan from 762.3 million yuan a year earlier. Other income grew to 49.4 million yuan from 27.9 million yuan a year ago.

The company's directors also approved the repurchase of up to 196,709,502 shares for up to HK$500 million, according to a separate filing with the bourse on Thursday.

Shares closed 7% higher on Friday.

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