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Coolpad Group ( (HK:2369) ) has provided an update.
Coolpad Group Limited has issued a profit warning, indicating an expected increase in losses for the fiscal year ending December 31, 2024, ranging from HK$245 million to HK$265 million, compared to a loss of HK$221 million in the previous year. The increase in losses is attributed to decreased gross profit due to clearance of certain mobile phone products, higher administrative and operating expenses from losses in U.S.-listed securities, and increased financial costs due to higher interest expenses from long-term liabilities.
More about Coolpad Group
Coolpad Group Limited is a company incorporated in the Cayman Islands, primarily involved in the mobile phone industry. The company, along with its subsidiaries, focuses on producing and selling mobile phones and related products.
YTD Price Performance: 10.0%
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $67.46M
Learn more about 2369 stock on TipRanks’ Stock Analysis page.