tiprankstipranks
China Gas Industry Foresees Profit Dip
Company Announcements

China Gas Industry Foresees Profit Dip

China Gas Industry Investment Holdings Co.Ltd. (HK:1940) has released an update.

Don't Miss our Black Friday Offers:

China Gas Industry Investment Holdings Co. Ltd. has announced an expected profit after tax of no less than RMB50 million for the first half of 2024, a decrease from the RMB69.5 million in the same period of 2023, primarily due to approximately RMB38 million in impairment losses on property, plant, and equipment. The company attributes the loss in part to an exit and relocation plan affecting a major customer, yet cost-saving measures have helped mitigate the impact. They also plan to auction off the impaired assets and an LNG filling station post-period.

For further insights into HK:1940 stock, check out TipRanks’ Stock Analysis page.

Looking for investment ideas? Subscribe to our Smart Investor newsletter for weekly expert stock picks!
Get real-time notifications on news & analysis, curated for your stock watchlist. Download the TipRanks app today! Get the App