Moody Technology Holdings Limited (HK:1400) has released an update.
Moody Technology Holdings Limited has issued a profit warning, expecting a 35% decrease in revenue and a significant increase in losses for the six-month period ending June 30, 2024, compared to the same period in 2023. The downturn is attributed to reduced sales in fabrics and clothing, increased administrative costs, and the absence of a one-time gain recorded in the previous year. Investors are advised to exercise caution when dealing with the company’s shares as the interim results are yet to be finalized and audited.
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