Modern Chinese Medicine Group Co. Ltd. (HK:1643) has released an update.
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Modern Chinese Medicine Group Co., Ltd. has issued a profit warning, anticipating a net loss of RMB4.5 to 8.5 million for the first half of 2024, a stark contrast to the net profit of RMB27.6 million in the same period last year. The downturn is attributed to a decrease in revenue due to production halt for renovation and a loss on disposal of plant equipment. The company assures shareholders of adequate cash reserves for current operations and minimal impact on overall cash flow.
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