Sino-Synergy Hydrogen Energy Technology (Jiaxing) Co., Ltd. Class H (HK:9663) has released an update.
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Sino-Synergy Hydrogen Energy Technology (Jiaxing) Co., Ltd. anticipates a loss of RMB203 million to RMB216 million for the first half of 2024, a significant increase from the previous year’s RMB124 million loss. The increased losses are attributed to higher research and development expenses, low gross profit margins due to the promotion of new products, and a rise in credit impairment provisions. Investors are cautioned to await the final interim results, expected by the end of August 2024, before making any decisions regarding the company’s shares.
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