China High Speed Forewarns of Major Losses

China High Speed Transmission Equipment Group Co (HK:0658) has released an update.

China High Speed Transmission Equipment Group Co., Ltd. has issued a profit warning, indicating an anticipated loss of up to RMB 530 million for the first half of 2024, in stark contrast to the RMB 209.2 million profit from the same period last year. The expected loss is largely due to reduced profits from their gear transmission equipment business and an increase in impairment losses on receivables. Investors are urged to exercise caution when dealing with the company’s securities.

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