Sino Gas Holdings Group Limited (HK:1759) has released an update.
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Sino Gas Holdings Group Limited has issued a profit warning, anticipating a net loss of not more than RMB 4.0 million for the first half of 2024, contrasting sharply with a net profit of RMB 1.0 million in the same period of the previous year. The company attributes this downturn to a decrease in sales volume in the CNG vehicular sector, driven by the adoption of electric vehicles and increased market competition. Shareholders and potential investors are advised to exercise caution when dealing in the company’s shares.
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