Yadea Group Holdings Ltd. (HK:1585) has released an update.
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Yadea Group Holdings Ltd. has issued a profit warning, expecting a significant drop in net profit for 2024, with figures projected between RMB1,200 million and RMB1,400 million, compared to RMB2,640.2 million last year. The decrease is mainly due to lower sales volumes of electric two-wheelers and reduced selling prices to clear inventory. Despite this, the company assures a healthy cash flow and financial stability.
For further insights into HK:1585 stock, check out TipRanks’ Stock Analysis page.