Watts International Forecasts Significant Mid-Year Loss

Watts International Maritime Engineering Ltd. (HK:2258) has released an update.

Watts International Maritime Engineering Ltd. has issued a profit warning, expecting to report a net loss of RMB 111 million to RMB 124 million for the first half of 2024, in stark contrast to the net profit of RMB 12 million in the same period of 2023. This anticipated loss is primarily due to increased impairment losses on financial assets and a significant drop in revenue from municipal public construction operations amid tough macroeconomic conditions. Investors are advised to exercise caution and await the official interim results to be published by the end of August 2024.

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