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An update from Shanghai Turbo Enterprises Ltd. ( (SG:AWM) ) is now available.
Shanghai Turbo Enterprises Ltd., a company incorporated in the Cayman Islands, has announced its responses to questions from the Securities Investors Association (Singapore) ahead of its Annual General Meeting. Despite a 23.6% increase in revenue to RMB 78.99 million for the financial year ended December 31, 2023, the company reported an operating loss of RMB 1.86 million when excluding one-off gains. The company attributes these losses to rising operating costs, including supply chain and raw material expenses, amidst a competitive business climate. Additionally, the company’s manufacturing facilities have been operating at high capacity, necessitating the addition of new production machines to focus on higher-value products.
More about Shanghai Turbo Enterprises Ltd.
Technical Sentiment Signal: Sell
Current Market Cap: S$30.52K
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