Yincheng Life Service Co., Ltd. (HK:1922) has released an update.
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Ruisen Life Service Co., Ltd. has issued a profit warning, anticipating a significant loss of at least RMB90 million for the first half of 2024, in stark contrast to a profit of RMB63.8 million a year earlier. The downturn is mainly due to increased impairment provisions related to property developers facing liquidity challenges. Additionally, trading of the company’s shares remains suspended on the Hong Kong Stock Exchange.
For further insights into HK:1922 stock, check out TipRanks’ Stock Analysis page.
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