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The latest announcement is out from Cinese International Group Holdings Limited ( (HK:1620) ).
Cinese International Group Holdings Limited has issued a profit warning, indicating a significant financial downturn for the year ending December 31, 2024. The company expects to report a loss before income tax of at least HK$28.0 million, a stark contrast to the HK$5.2 million profit recorded in the previous year. This anticipated loss is primarily due to a substantial increase in expected credit losses allowance on financial assets, attributed to longer aged balances from certain debtors. Stakeholders are advised to exercise caution as the final results, which may differ from preliminary assessments, are expected to be published on March 28, 2025.
More about Cinese International Group Holdings Limited
YTD Price Performance: -15.00%
Average Trading Volume: 221,875
Technical Sentiment Signal: Strong Buy
Current Market Cap: HK$61.2M
Find detailed analytics on 1620 stock on TipRanks’ Stock Analysis page.