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China High Speed Transmission Equipment Group Co ( (HK:0658) ) has issued an update.
China High Speed Transmission Equipment Group Co., Ltd. has issued a profit warning, anticipating a significant financial loss for the year ending December 31, 2024, compared to the previous year’s profit. This downturn is primarily due to substantial impairment provisions related to trade receivables and prepayments, influenced by suspected illegal activities by related companies and individuals. The company is pursuing legal action to protect its interests, and stakeholders are advised to exercise caution.
More about China High Speed Transmission Equipment Group Co
China High Speed Transmission Equipment Group Co., Ltd. operates in the manufacturing industry, focusing on high-speed transmission equipment. The company is involved in the production and distribution of gear transmission equipment and has a market focus on industrial applications.
YTD Price Performance: 4.55%
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $187.2M
For a thorough assessment of 0658 stock, go to TipRanks’ Stock Analysis page.