Min Xin Holdings Foresees Major Profit Drop

Min Xin Holdings Limited (HK:0222) has released an update.

Min Xin Holdings Limited anticipates a significant profit decline for the first half of 2024, expecting to report earnings of HK$30 to HK$35 million, which is about a 70% to 74% decrease from the previous year. This drop is mainly attributed to a downturn in the results from the company’s major associate and a one-off loss from a capital reduction in a subsidiary. Investors are urged to exercise caution when trading the company’s shares.

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