Pacific Millennium Packaging Group Issues Profit Warning Amid Rising Costs

Pacific Millennium Packaging Group Corp. ( (HK:1820) ) has issued an update.

Pacific Millennium Packaging Group Corporation has issued a profit warning, indicating an expected net loss of up to RMB20 million for the year ended December 31, 2024, compared to a net profit of approximately HK$22 million the previous year. The loss is attributed to a drop in product unit prices and increased operating costs from new production plants. Despite this, the company does not anticipate a significant adverse impact on its overall operations and cash flows.

More about Pacific Millennium Packaging Group Corp.

Pacific Millennium Packaging Group Corporation is a company incorporated in the Cayman Islands, operating in the packaging industry. The Group focuses on providing packaging solutions and has expanded its operations with new production plants in Huzhou and Wuhan.

YTD Price Performance: -20.65%

Average Trading Volume: 18,920

Technical Sentiment Consensus Rating: Buy

Current Market Cap: HK$1.48B

For a thorough assessment of 1820 stock, go to TipRanks’ Stock Analysis page.