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MKDWELL Tech Inc (MKDW) delivers cutting-edge automotive electronics solutions for modern vehicles, specializing in intelligent control systems and LiDAR technology. This news hub provides investors and industry professionals with essential updates on corporate developments, product innovations, and market positioning.
Access official press releases covering earnings reports, strategic partnerships, and technological breakthroughs in vehicle electronics. Our curated collection includes updates on camper van control systems, logistics vehicle solutions, and R&D advancements that drive the future of automotive technology.
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MKDWELL Tech Inc. (MKDW) reported disappointing financial results for H1 2024, with significant declines across key metrics. Total revenues fell 61.3% to US$0.81 million from US$2.10 million in H1 2023. The company's gross profit dropped to US$0.07 million with an 8.2% margin, compared to US$0.32 million with 15.2% margin in H1 2023.
Net loss widened to US$1.73 million, up 77.8% from US$0.97 million in the prior year period. The increased losses were primarily due to Nasdaq listing expenses and termination of a key customer relationship. The company completed its business combination with Cetus Capital in July 2024, resulting in its Nasdaq listing and acquisition of a 62.36% indirect equity interest in MKD Technology Inc.
MKDWELL Tech Inc. (MKDW), an automotive electronics manufacturer, has completed its business combination with Cetus Capital Acquisition Corp. on July 31, 2024. The company's ordinary shares and warrants will begin trading on Nasdaq under the symbols MKDW and MKDWW on August 1, 2024.
This follows Cetus Capital's stockholders' approval on July 9, 2024, and the fulfillment of all closing conditions. The company will be led by founder Ming-Chia Huang as CEO and Chairman, with Min-jie Cui as CFO. The Board includes Executive Director Ming-Chao Huang and Independent Directors Chih-Hsiang Tang, Chung-Yi Sun, and Jung-Te Chang.
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