Heng Tai Consumables Group (HK:0197) has released an update.
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Heng Tai Consumables Group Limited has issued a profit warning, alerting shareholders and investors of an expected 56% increase in net loss for the financial year ended June 30, 2024, amounting to approximately HK$196 million. The company attributes this projected loss to various challenges such as China’s economic slowdown, fierce domestic competition, adverse weather impacting farming operations, and high interest rates increasing funding costs. Despite these setbacks, if impairment losses are excluded, the firm anticipates a reduced operating loss compared to the previous year.
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