Xingda International Holdings ( (HK:1899) ) has provided an announcement.
Xingda International Holdings Limited has issued a profit warning, anticipating a significant decrease in net profit for the fiscal year 2024, ranging from 35% to 50% compared to the previous year. This decline is attributed to increased competition in the steel cords trading industry, leading to reduced average selling prices and a contraction in gross profit margin, alongside a rise in ocean freight costs.
More about Xingda International Holdings
Xingda International Holdings Limited is a company incorporated in the Cayman Islands, primarily engaged in the steel cords trading industry.
YTD Price Performance: 11.76%
Average Trading Volume: 2,800
Technical Sentiment Consensus Rating: Strong Sell
Current Market Cap: $319.5M
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