Powerwin Tech Group Limited (HK:2405) has released an update.
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Powerwin Tech Group Limited has issued a profit warning, anticipating a decrease in net profit by less than 90% for the first half of 2024 compared to the same period in 2023. The decline is attributed to increased competition and promotional activities in the cross-border digital marketing business, as well as longer collection periods leading to higher bad debt provisions. Despite the profit dip, demand for cross-border digital marketing services remains high, driven by the growth of China-based e-commerce merchants.
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