Huaibei GreenGold Industry Investment Co., Ltd. Class H (HK:2450) has released an update.
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Huaibei GreenGold Industry Investment Co., Ltd. is bracing for a significant downturn, expecting to report a loss of RMB6 million to RMB13 million for the first half of 2024, contrasting sharply with the RMB16.4 million profit from the previous year. The anticipated loss is mainly attributed to declining average selling prices and sales volumes of the company’s aggregate and concrete products, as the economic slump impacts the domestic infrastructure and real estate sectors. Investors are advised to exercise caution when dealing in the company’s securities.
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