Ruicheng (China) Media Group Limited (HK:1640) has released an update.
Don’t Miss TipRanks’ Half-Year Sale
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Ruicheng (China) Media Group Limited anticipates a notable decrease in revenue by over 70% for the first half of 2024 compared to the previous year, alongside a significant increase in net profit due to the reversal of impairment loss from a disposed subsidiary. The revenue drop is due to heightened competition and a price war in the advertising industry, while the profit surge is offset by the associated disposal loss and rising administrative expenses. Investors are cautioned to exercise prudence when dealing with the company’s shares.
For further insights into HK:1640 stock, check out TipRanks’ Stock Analysis page.