China Singyes Solar Technologies Holdings (HK:0750) has released an update.
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China Shuifa Singyes Energy Holdings Limited, a Bermuda-incorporated company listed on the Hong Kong Stock Exchange, is set to report a decrease in its profit before income tax for the first half of 2024, estimating a range between RMB 30 to 40 million, down from RMB 79.99 million in the same period last year. The slump is attributed to a slow recovery in business sentiment, particularly in the property market, and delays in project completions. Despite this, the company has seen an improvement in gross profit margin and operating profit due to high-quality photovoltaic EPC projects and enhanced internal control efficiencies.
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