Don’t Miss TipRanks’ Half Year Sale
- Take advantage of TipRanks Premium for 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.
SPT Energy Group ( (HK:1251) ) has issued an update.
SPT Energy Group Inc. has issued a profit warning, indicating an expected net loss of RMB250 million to RMB300 million for the year ending December 31, 2024, compared to a net profit of RMB16.7 million the previous year. This downturn is attributed to reduced workdays due to extreme weather in Kazakhstan, asset impairment provisions, and decreased revenue and profitability due to customer cost-cutting measures and intense market competition. Trading of the company’s shares on the Hong Kong Stock Exchange remains suspended, and stakeholders are advised to exercise caution.
More about SPT Energy Group
SPT Energy Group Inc. is a company incorporated in the Cayman Islands, primarily operating in the energy sector. The Group provides services and products related to energy exploration and production, with a market focus that includes regions such as Kazakhstan.
YTD Price Performance: -48.00%
Average Trading Volume: 6,119,600
Technical Sentiment Signal: Sell
Current Market Cap: HK$127M
Learn more about 1251 stock on TipRanks’ Stock Analysis page.