JiaXing Gas Group Forecasts Sharp Profit Decline

JiaXing Gas Group Co. Ltd. Class H (HK:9908) has released an update.

JiaXing Gas Group Co., Ltd. has issued a profit warning indicating a significant decrease in profit for the first half of 2024, with expected reductions of 40%-53% from the previous year. The decline is primarily due to a drop in gross profit from subsidiary Hangjiaxin, as international liquefied natural gas prices fell. Shareholders and potential investors are cautioned to exercise prudence when dealing in the company’s shares.

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