China Nature Energy Technology Holdings Limited (HK:1597) has released an update.
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China Nature Energy Technology Holdings Limited has issued a profit warning, anticipating a net loss of not more than RMB 20 million for the first half of 2024, a significant increase from the RMB 5.467 million loss in the same period the previous year. The company attributes the expected loss to intense market competition reducing gross profit from pitch control system sales and higher costs associated with new R&D and sales teams for their energy storage business. Investors are cautioned to exercise care when dealing in the company’s shares.
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