Coolpad Group Expects Substantial Loss Reduction

Coolpad Group (HK:2369) has released an update.

Coolpad Group Limited anticipates a significant reduction in net losses for the fiscal year 2023, estimating losses between HK$220 million to HK$225 million, compared to HK$625 million in the previous year. This improvement is credited to a shift to gross profit, reduced expenses, and strategic adjustments in product branding and sales channels. The company’s shares continue to be suspended from trading as they finalize the financial results, with a cautionary note to shareholders and potential investors regarding dealings in company securities.

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