China-Hongkong Photo Products Holdings Limited (HK:1123) has released an update.
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China-Hongkong Photo Products Holdings Limited has issued a profit warning, predicting a significant drop in net profit to not more than HK$7.5 million for the six months ending September 2024, compared to HK$28.7 million in the same period last year. This decline is attributed to reduced consumer spending, the absence of a tax credit, and increased impairment provisions. Despite these challenges, the company maintains a solid overall financial position.
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