China Zhengtong Auto Services Holdings (HK:1728) has released an update.
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China Zhengtong Auto Services Holdings Limited has issued a profit warning, expecting a 65% increase in net loss for the first half of 2024 compared to the same period in the previous year, despite business strategy adjustments and cost-efficiency measures. The company cited decreased sales volumes and selling prices due to heightened competition in the domestic auto market as primary reasons for the loss increase. Shareholders and potential investors are advised to exercise caution when dealing with the company’s securities.
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