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MEGAIN Holding (Cayman) Co. Ltd. ( (HK:6939) ) just unveiled an update.
MEGAIN Holding has issued a profit warning, anticipating a significant decrease in net profit for the fiscal year 2024, with an expected drop of 82% to 92% compared to the previous year. This decline is attributed to increased competition in the compatible cartridge chips industry, lack of revenue from technical and design services, and rising expenses in marketing, research, and provision for impairment on receivables. The announcement highlights the company’s strategic shift towards new business development despite current financial challenges.
More about MEGAIN Holding (Cayman) Co. Ltd.
MEGAIN Holding (Cayman) Co., Ltd. operates in the technology sector, focusing on the production and sale of compatible printer cartridge chips. The company is also expanding into new business areas such as chips for the Internet of Things and online sales, indicating a market focus on technological innovation and diversification.
YTD Price Performance: -3.30%
Average Trading Volume: 125,023
Technical Sentiment Consensus Rating: Buy
Current Market Cap: HK$228.2M
See more insights into 6939 stock on TipRanks’ Stock Analysis page.