China PengFei Group Limited (HK:3348) has released an update.
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China PengFei Group Limited warns of a substantial profit decline, expecting a 53.1% to 76.5% drop for the six months ending in June 2024, compared to the same period in 2023. The decrease is primarily due to falling equipment sales, market volatility, and higher research and development costs. Despite this, the company assures that its core manufacturing and installation services in China remain stable.
For further insights into HK:3348 stock, check out TipRanks’ Stock Analysis page.