Shinelong Automotive Anticipates Profit Drop

Shinelong Automotive Lightweight Application Limited (HK:1930) has released an update.

Shinelong Automotive Lightweight Application Limited warns of a significant drop in net profit for the first half of 2024, anticipating a decrease of at least 40% compared to the same period the previous year. The decline is primarily due to reduced sales to a major customer, increased costs from factory relocation, higher inventory provisions, and growing research and administrative expenses. Investors are advised to exercise caution and look out for the official interim results announcement set for August 2024.

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