Fulum Group Holdings Ltd. (HK:1443) has released an update.
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Fulum Group Holdings Ltd. has issued a profit warning, projecting a significant loss of HK$40 million to HK$50 million for the six months ended September 2024, compared to a small profit in the same period last year. The loss is attributed to challenging economic conditions, a decline in consumer spending, and increased retail competition from neighboring mainland Chinese cities. Investors are advised to approach the company’s shares with caution as the final interim results are forthcoming.
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