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Pu’er Lancang Ancient Tea Co., Ltd. ( (HK:6911) ) has issued an announcement.
Pu’er Lancang Ancient Tea Co., Ltd. has issued a profit warning, expecting a significant revenue decline of 30% to 32% for the year 2024 compared to 2023. The company attributes this downturn to challenges in offline sales due to slow market recovery and the impact of e-commerce, alongside increased provisions for asset impairments and bad debts. Despite efforts to boost online sales and significant investments in marketing, the company has not achieved the desired revenue growth, leading to anticipated losses.
More about Pu’er Lancang Ancient Tea Co., Ltd.
Pu’er Lancang Ancient Tea Co., Ltd. is a company incorporated in the People’s Republic of China, operating in the tea industry. The company focuses on the production and sale of tea products, leveraging both offline physical stores and online channels to reach its market.
YTD Price Performance: -20.63%
Average Trading Volume: 19,330
Technical Sentiment Consensus Rating: Strong Buy
Current Market Cap: HK$126M
See more data about 6911 stock on TipRanks’ Stock Analysis page.