China Qinfa Group Ltd. (HK:0866) has released an update.
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China Qinfa Group Limited has issued a profit warning, indicating an expected significant drop in profit after taxation for the first half of 2024, forecasting a maximum of RMB65 million compared to RMB140.1 million in the same period of the previous year. The decrease is primarily attributed to a reduction in coal selling prices and substantial foreign exchange losses due to the depreciation of the Indonesian Rupiah. Investors are urged to exercise caution and await the final interim results due by the end of August 2024.
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