Fufeng Group Projects Significant Profit Decline

Fufeng Group Limited (HK:0546) has released an update.

Fufeng Group Limited has issued a profit warning indicating an expected decrease in net profit for the first half of 2024, estimating a drop of RMB450 million to RMB600 million compared to the previous year’s same period. The decline is primarily due to lower market selling prices for the company’s main products, which has impacted the gross and net profits. Shareholders and potential investors are advised to exercise caution and anticipate the detailed interim results announcement scheduled for August 2024.

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