Huajin International Holdings Ltd. (HK:2738) has released an update.
Huajin International Holdings Ltd. has announced an expected decrease in net profit for the first half of 2024, projecting an unaudited consolidated net profit between RMB 10 million to RMB 20 million, a significant drop from RMB 39.4 million in the same period of 2023. The decline is attributed to reduced profit margins from hot-rolled steel coils and scrap steel sales, as well as increased administrative expenses and finance costs. Investors are urged to exercise caution when dealing in the company’s shares.
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