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.
For further insights into HK:1443 stock, check out TipRanks’ Stock Analysis page.