Giant's subsidiary's application for listing was rejected
Giant Group submitted an application for the listing of its Chinese subsidiary D.Mag to the Shanghai Stock Exchange on June 16 last year, but the application was rejected. According to the review results, D.Mag did not meet the requirements for issuance, listing or information disclosure.
D.Mag is an affiliated company of Giant Light Metal, and Giant Group owns a majority stake in D.Mag. D.Mag specializes in R&D, design, production and sales of high-performance aluminum alloy, magnesium alloy materials and parts, with a registered capital of RMB 360 million. It is worth noting that D.Mag is not the Kunshan branch of Giant. Huge Group said: The decision of the Shanghai Stock Exchange will not change our development strategy.
GoPro's Q2 revenue down 4% despite higher retail prices
Although GoPro ended the discounted prices during the epidemic in the second quarter and restored the pricing before the epidemic, and the retail channel revenue also increased by 6%, the company's revenue fell by 3.9% year-on-year.
In the second quarter of 2023, the company's total revenue was $241 million, compared to $251 million in the same period last year. Retail channel revenue was $165 million, and GoPro.com subscription and services revenue was $76 million, down 21% year-over-year.
Nicholas Woodman, CEO and founder of GoPro, said: In the second quarter, as we made market strategy adjustments, including restoring pre-epidemic pricing and paying more attention to retail sales, GoPro's retail sales and GoPro subscriptions immediately improved. Our second quarter average sales, revenue and user growth all exceeded expectations, all positive signs that our strategic shift is working. The number of GoPro subscribers grew 27% year-over-year in the second quarter to approximately 2.44 million. Also in the second quarter.
