New Sparkle Roll Anticipates Significant Losses

New Sparkle Roll International Group Limited (HK:0970) has released an update.

New Sparkle Roll International Group Limited has issued a profit warning, forecasting a substantial increase in losses to approximately HK$170 million for FY2024, compared to the previous year’s HK$53 million. The projected loss is primarily due to a decline in revenue and gross profit in the automotive sector, exacerbated by weak market sentiment and intense competition. As the company finalizes its financial results, shareholders and investors are advised to exercise caution in trading.

For further insights into HK:0970 stock, check out TipRanks’ Stock Analysis page.