Aowei Holding Forecasts Diminished First-Half Losses

Aowei Holding Limited (HK:1370) has released an update.

Aowei Holding Limited, a mining company, has issued a profit warning to its shareholders and potential investors, anticipating a loss of no more than approximately RMB 55.0 million for the first half of 2024. This expected loss, an improvement from the RMB 65.7 million loss in the previous year, is primarily due to the suspension of mining activities at its subsidiary Jiheng Mining’s iron mine. Investors are advised to exercise caution when dealing in the company’s shares.

For further insights into HK:1370 stock, check out TipRanks’ Stock Analysis page.