Sunfonda Group Holdings Ltd. (HK:1771) has released an update.
Sunfonda Group Holdings Ltd., a vehicle sales company, has issued a profit warning indicating an expected loss of RMB97.0 million for the first half of 2024, compared to a profit in the same period last year. This downturn is attributed to decreased profitability in new vehicle sales, driven by a challenging macroeconomic environment and increased competition in the auto industry. Shareholders and potential investors are advised to exercise caution and look out for the detailed interim results due by the end of August 2024.
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