Huasheng International Holding Limited (HK:1323) has released an update.
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Huasheng International Holding Limited has issued a profit warning, expecting a net loss of at least HK$24 million for the six months ending September 2024, compared to HK$3.8 million in the same period last year. This significant downturn is attributed to weak demand in the Chinese real estate market, affecting their concrete business, along with rising raw material costs and intense price competition. Investors are advised to exercise caution as the company finalizes its financial results.
For further insights into HK:1323 stock, check out TipRanks’ Stock Analysis page.