China Rongzhong Financial Holdings Company Limited (HK:3963) has released an update.
China Rongzhong Financial Holdings Company Limited has issued a profit warning, anticipating a significant reduction in losses for the year ended March 31, 2024, compared to the previous year. The expected improvement in the company’s financial performance is largely attributed to decreased provisions for expected credit losses, lower impairment losses on goodwill, and reduced finance costs following the disposal of some subsidiaries. Shareholders and potential investors are advised to exercise caution when dealing in the company’s securities.
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