Shunten International (Holdings) Ltd. (HK:0932) has released an update.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 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.
Shunten International (Holdings) Ltd. has issued a profit warning, indicating an expected significant drop in its consolidated results for the year ended March 31, 2024, with potential losses or minimal profits compared to the previous year’s substantial profits. Despite increased revenue, this downturn is due to factors such as decreased investment property values, higher rent and commission expenses, absence of government subsidies, and increased finance costs. The company assures stakeholders of ongoing healthy business conditions and is taking strategic measures to enhance its market position and optimize costs.
For further insights into HK:0932 stock, check out TipRanks’ Stock Analysis page.