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An update from Centenary United Holdings Limited ( (HK:1959) ) is now available.
Centenary United Holdings Limited, a company listed on the Hong Kong Stock Exchange, has issued a profit warning for the fiscal year ending December 31, 2024. The company anticipates a significant decline in revenue and an increase in net loss compared to the previous year, primarily due to macroeconomic challenges in China and a competitive price war in the automotive market, which have adversely affected vehicle sales and prices. Additionally, the company has made impairment provisions on certain long-term assets as part of its strategy to streamline operations by closing inefficient stores. This announcement serves as a preliminary assessment, with final results expected to be published by the end of March 2025.
More about Centenary United Holdings Limited
YTD Price Performance: -24.04%
Average Trading Volume: 49,172
Technical Sentiment Consensus Rating: Sell
Current Market Cap: HK$179.3M
See more data about 1959 stock on TipRanks’ Stock Analysis page.