Yanchang Petroleum Forecasts Mid-Year Losses

Yanchang Petroleum International Limited (HK:0346) has released an update.

Yanchang Petroleum International Limited has issued a profit warning, expecting to post a loss of HK$27.3 million for the first half of 2024, a significant downturn from the HK$12.8 million profit in the same period of the previous year. The anticipated loss is mainly attributed to the underperformance of their oil and gas production business in Canada. Investors are advised to exercise caution when dealing with the company’s securities.

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