Yangtzekiang Garment Expects Major Annual Losses

Yangtzekiang Garment Co. Ltd. (HK:0294) has released an update.

Yangtzekiang Garment Co. Ltd. has issued a profit warning, anticipating a significant loss for the fiscal year ending March 31, 2024, with expected losses ranging between HK$45 million and HK$55 million. This downturn is mainly due to a sharp decline in overseas demand leading to reduced revenue and gross profit, alongside expected losses from joint ventures and revaluation of investment properties. Shareholders and potential investors are advised to exercise caution when dealing in the company’s shares.

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