China Titans Energy Technology Group Co., Ltd. (HK:2188) has released an update.
China Titans Energy Technology Group Co., Ltd. has issued a profit warning indicating an expected net loss of RMB 28 to 33 million for the first half of 2024, a significant decrease from the profit reported in the same period of 2023. This anticipated loss is attributed to factors such as lower gross profit margins due to aggressive sales strategies, increased sales and administrative expenses, decreased other income, including government grants, and higher provisions for receivables. Shareholders and potential investors are advised to exercise caution when dealing in the company’s shares.
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