China Rongzhong Financial Holdings Company Limited (HK:3963) has released an update.
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China Rongzhong Financial Holdings is projecting a significant financial downturn, with an expected loss of approximately HK$3.4 million for the six months ending September 2024, compared to a profit in the previous year. The company’s revenue decline is primarily attributed to reduced income from debt collection services amid a slowing Chinese economy, impacting debt repayment capabilities. Investors are urged to exercise caution as the financial figures are still subject to internal review and adjustments.
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