Shuanghua Holdings Ltd. (HK:1241) has released an update.
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Shuanghua Holdings Ltd. has issued a profit warning for the first half of 2024, forecasting a significant increase in revenue to approximately RMB 60.6 million from RMB 28.7 million in the previous year, but also an estimated net loss after tax of RMB 3.2 million in contrast to a net profit in 2023. The revenue spike is attributed to strong seasonal sales and an emphasis on the food supply business, while the anticipated loss is due to decreased gross margins amid economic pressures in China. Shareholders and potential investors are advised to exercise caution when dealing with the company’s securities.
For further insights into HK:1241 stock, check out TipRanks’ Stock Analysis page.