Mainland Headwear Holdings (HK:1100) has released an update.
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Mainland Headwear Holdings Limited has issued a profit warning, anticipating a decline in performance of over 40% for the first half of 2024 compared to the same period in 2023. The company attributes this downturn to investments in a new factory and warehouse in Mexico aimed at reducing operational costs and the overall weak global macroeconomic conditions affecting the headwear market. Shareholders and potential investors are advised to exercise caution when dealing with the company’s securities.
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