Solomon Systech (International) Ltd. (HK:2878) has released an update.
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Solomon Systech (International) Limited has issued a profit warning, anticipating a significant drop in profits for the first half of 2024, with expected profits between US$7.0 to US$7.5 million, a 43% to 47% decrease from the previous year. The decline is attributed to reduced sales revenue, gross profit, and the strategic clearing of inventory at lower prices during a technology transition in their electronic shelf label products. Despite this setback, the company notes an improvement over the second half of the previous year due to enhanced product development strategies.
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