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Meihao Medical Group Issues Profit Warning Amidst Market Challenges

Story Highlights
  • Meihao Medical Group expects a significant net loss for 2024 due to decreased sales prices and competition.
  • The company remains financially stable and plans to explore new business opportunities despite current challenges.
  • Looking for the best stocks to buy? Follow the recommendations of top-performing analysts.
Meihao Medical Group Issues Profit Warning Amidst Market Challenges

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Meihao Medical Group Co., Ltd. ( (HK:1947) ) just unveiled an announcement.

Meihao Medical Group Co., Ltd has issued a profit warning, anticipating a net loss between RMB29.4 million and RMB35.9 million for the year ending December 2024, compared to a net loss of RMB13.6 million in the previous year. The loss is attributed to decreased sales prices due to procurement policies, intensified competition, economic recovery falling short of expectations, and increased staff costs. Despite these challenges, the company maintains a healthy financial position with sufficient cash reserves and plans to explore new business opportunities.

More about Meihao Medical Group Co., Ltd.

Meihao Medical Group Co., Ltd is a company incorporated in the Cayman Islands, operating in the medical industry with a focus on dental services. The company is involved in implant dentistry services and faces a competitive local dental market.

YTD Price Performance: -8.11%

Average Trading Volume: 196,406

Technical Sentiment Consensus Rating: Strong Buy

Current Market Cap: HK$204.1M

For a thorough assessment of 1947 stock, go to TipRanks’ Stock Analysis page.

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