China Yongda Forecasts Significant Profit Decline

China Yongda Automobiles Services (HK:3669) has released an update.

China Yongda Automobiles Services Holdings Limited has issued a profit warning, anticipating a drop of up to 75% in consolidated net profit for the first half of 2024 compared to the same period in 2023. The decline is attributed primarily to reduced new vehicle sales and lower gross profit margins. While the after-sales business remains stable, the unaudited results are not yet finalized and shareholders are advised to exercise caution with their securities.

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