Golden Solar New Energy Technology Holdings Limited (HK:1121) has released an update.
Golden Solar New Energy Technology Holdings Limited has issued a profit warning for the first half of 2024, with an expected net loss increase due to decreased sales and gross profit margins, alongside higher research and development costs for advanced solar technologies. The company’s sales dropped by 18% compared to the previous year, with a decrease in gross profit margin from 16% to 10%. These financial challenges are attributed to reduced demand in the US, competitive pricing pressures, and transition costs to new high-efficiency solar technologies.
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