Sanergy Group Ltd. (HK:2459) has released an update.
Don’t Miss TipRanks’ Half Year Sale
- Take advantage of TipRanks Premium for 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.
Sanergy Group Limited has issued a profit warning for the first half of 2024, anticipating a net loss of up to $16.5 million, a significant increase from the $4.2 million net loss in the same period the previous year. This expected loss is largely due to suppressed market prices for graphite electrode, increased unit costs of sales, and investment in the development of a new graphite anode materials business expansion, particularly in the European market. Investors are cautioned to seek advice and exercise caution when dealing with the company’s shares, with detailed interim results to be published in late August 2024.
For further insights into HK:2459 stock, check out TipRanks’ Stock Analysis page.