China Finance Investment Holdings Limited (HK:0875) has released an update.
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Congyu Intelligent Agricultural Holdings Limited has issued a profit warning, expecting a net profit of no more than HK$6.0 million for the first half of 2024, a significant decline from the HK$30.1 million reported in the same period the previous year. The decrease is attributed to lower revenue due to China’s economic downturn, increased consultancy fees, and impairment losses on trade receivables. Investors are advised to exercise caution when trading the company’s securities.
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