Sino-Synergy Hydrogen Energy Technology Logs Wider Loss in H1

MT Newswires Live09-02

Sino-Synergy Hydrogen Energy Technology (HKG:9663) recorded a loss attributable to owners of 212.3 million yuan for the six months ended June 30, wider than 124.3 million yuan logged for the corresponding period last year, a Friday filing with the Hong Kong Exchange said.

Loss per share attributable to shareholders stood at 0.41 yuan for the reporting period, compared to 0.30 yuan recorded for the year-ago period.

The hydrogen fuel company's revenue for the first half of this year was 133 million yuan, 37.3% lower from a year ago.

The company attributed the decline in revenue to fluctuations in its operating performance being at the early stages of commercialization and a decrease in sales of hydrogen fuel cell systems during the period.

The company's shares were up over 10% on Monday's close.

Price (HKD): $17.96, Change: $+1.6, Percent Change: +10.05%

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