Guan Chao Holdings Limited (HK:1872) has released an update.
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Guan Chao Holdings Limited has issued a profit warning, expecting a significant drop in profits for the first half of 2024, with a projected profit of S$0.9 million compared to S$6.4 million in the same period of the previous year. The decline is mainly attributed to reduced customer demand and the sustained high prices of Certificates of Entitlement, which have dampened market demand. Shareholders and potential investors are advised to exercise caution when trading the company’s shares.
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