China Chuanglian Education Financial Group Limi ted (HK:2371) has released an update.
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Chuanglian Holdings Limited has issued a profit warning, expecting to register a net loss of RMB 70 million for the 18-month period ending 30 June 2024, a significant downturn from the net profit reported in the previous year. This anticipated loss is attributed to declining revenue in high-margin online training services and increased promotional expenses for on-site training, compounded by a RMB 22 million drop in compensation income and a reduced profit from finance leasing services. Investors are cautioned to await the final results due by the end of September 2024 before trading in the company’s securities.
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