Luxury marketing company Activation Group announced its H1 2024 results, with revenue of 316 million RMB ($43.5 million), down from 350 million RMB ($48.2 million) in the same period last year. Net profit was 30.2 million RMB ($4.1 million), compared to 41 million RMB ($5.6 million) last year, and the gross margin increased by 2.7 percentage points to 32.7%. Regionally, mainland China contributed 280 million RMB ($38.3 million), accounting for 91% of total revenue, while Hong Kong and Singapore generated 27.83 million RMB ($3.8 million). Due to the slowdown in the luxury goods industry and seasonal factors, Activation Group’s marketing business experienced an 8.1% decline in revenue to 250 million RMB ($34.3 million). The group’s market share increased to 12.7% in 2023, with over 550 brand clients.