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Sino Gas Holdings Group Limited ( (HK:1759) ) has provided an update.
Sino Gas Holdings Group Limited has issued a profit warning for the year ending December 31, 2024, expecting to record a net loss between RMB 18.0 million and RMB 20.0 million, a significant decline from the previous year’s net profit of approximately RMB 6.7 million. The anticipated loss is attributed to the decline in their higher-margin vehicle compressed natural gas business due to the replacement of compressed natural gas vehicles with electric vehicles in China, and impairment losses from the disposal of property, plant, and equipment.
More about Sino Gas Holdings Group Limited
Sino Gas Holdings Group Limited is a company incorporated in the Cayman Islands, primarily involved in the natural gas industry. The company focuses on providing compressed natural gas for vehicles, although it is facing challenges due to the shift towards electric vehicles in certain regions of China.
YTD Price Performance: 40.0%
Average Trading Volume: 52,777
Technical Sentiment Consensus Rating: Sell
Current Market Cap: HK$151.2M
See more insights into 1759 stock on TipRanks’ Stock Analysis page.