Centenary United Holdings Forecasts Higher Losses

Centenary United Holdings Limited (HK:1959) has released an update.

Centenary United Holdings Limited has issued a profit warning, indicating a stable revenue of RMB 738.0 million but a larger net loss of RMB 53.0 million for the first half of 2024 compared to the previous year, primarily due to the economic downturn in China affecting consumer spending and increasing competition in the automotive sector. The company cautions shareholders and potential investors that the interim results are preliminary and subject to change upon final review. Investors are advised to exercise caution when dealing with the company’s securities.

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