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An update from Ruichang International Holdings Ltd. ( (HK:1334) ) is now available.
Ruichang International Holdings Ltd. has issued a profit warning, indicating a significant decrease in net profit for the year ending December 31, 2024. The company expects a net profit of at least RMB10.3 million, an 81.3% decline from the previous year’s RMB55.2 million. This downturn is attributed to reduced sales due to postponed orders, decreased market demand, and increased competition in the petroleum refinery and petrochemical industry, along with higher selling and administrative expenses.
More about Ruichang International Holdings Ltd.
YTD Price Performance: -11.34%
Average Trading Volume: 599,076
Technical Sentiment Consensus Rating: Strong Buy
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