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Citychamp Watch & Jewellery Group ( (HK:0256) ) has shared an update.
Citychamp Watch & Jewellery Group Limited has issued a profit warning, indicating an expected loss of approximately HK$250 million for the year ending December 31, 2024, compared to a profit of HK$45.1 million in 2023. The anticipated loss is attributed to impairment loss on goodwill, inventory provisions, and weak consumer market sentiment, which are considered non-cash, non-recurring, and one-off factors. The final results will be announced on March 28, 2025, and stakeholders are advised to exercise caution.
More about Citychamp Watch & Jewellery Group
Citychamp Watch & Jewellery Group Limited operates in the luxury goods industry, focusing on the production and sale of watches and jewelry. The company is incorporated in the Cayman Islands and is listed on the Hong Kong Stock Exchange.
YTD Price Performance: -1.67%
Technical Sentiment Signal: Buy
Current Market Cap: $291.1M
For a thorough assessment of 0256 stock, go to TipRanks’ Stock Analysis page.