Golden Solar Issues Profit Warning Amid Strategic Shift to Photovoltaics

Golden Solar New Energy Technology Holdings Limited ( (HK:1121) ) has provided an announcement.

Golden Solar New Energy Technology Holdings Limited has issued a profit warning for the year ended December 31, 2024, reporting a 14% decrease in sales and a drop in gross profit margin. Despite challenges in the OEM footwear sector, the company is expanding its photovoltaic business with innovative technologies, aiming to establish a high-margin, asset-light model. The expected net loss for the period is reduced due to lower equity-settled share-based payments, but stakeholders are advised to exercise caution as the results are preliminary and unaudited.

More about Golden Solar New Energy Technology Holdings Limited

Golden Solar New Energy Technology Holdings Limited operates in the renewable energy sector, focusing on photovoltaic products and original equipment manufacturing (OEM) for footwear. The company has prioritized its photovoltaic business, developing advanced technologies to enhance solar cell efficiency and reduce production costs.

YTD Price Performance: -7.11%

Average Trading Volume: 594,935

Technical Sentiment Signal: Buy

Current Market Cap: HK$3.72B

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