China Tianbao Expects Losses Amidst Business Changes

China Tianbao Group Development Company Limited (HK:1427) has released an update.

China Tianbao Group Development Company Limited has issued a profit warning, anticipating a net loss of RMB 25 to 35 million for the six-month period ending June 30, 2024, contrasting last year’s net profit of RMB 3.1 million. The anticipated loss is attributed to new sales promotion strategies in their real estate sector, initial costs from launching a healthcare business, and increased interest expenses from higher loan amounts. Shareholders and potential investors are advised to exercise caution when dealing in the company’s shares.

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