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The latest announcement is out from Luyuan Group Holding (Cayman) Limited ( (HK:2451) ).
Luyuan Group Holding (Cayman) Limited has issued a profit warning, indicating an expected decrease of up to 30% in net profit for the year ending December 31, 2024, compared to the previous year. This decrease is attributed to share-based payments, a reduction in gross profit due to lower average selling prices of electric vehicles, and higher research and development costs. Excluding share-based payments, the expected net profit decrease would be no more than 10%. The company is finalizing its financial results, which may differ from preliminary assessments, with audited results expected by March 2025.
More about Luyuan Group Holding (Cayman) Limited
Luyuan Group Holding (Cayman) Limited is incorporated in the Cayman Islands and operates primarily in the electric vehicles sector. The company focuses on the production and distribution of electric vehicles, with a market focus on supporting distributors and refining product composition to address market competition.
YTD Price Performance: -3.49%
Average Trading Volume: 55,957
Technical Sentiment Consensus Rating: Sell
Current Market Cap: HK$3.07B
For an in-depth examination of 2451 stock, go to TipRanks’ Stock Analysis page.