Yuan Heng Gas Holdings Ltd (HK:0332) has released an update.
Meet Samuel – Your Personal Investing Prophet
- Start a conversation with TipRanks’ trusted, data-backed investment intelligence
- Ask Samuel about stocks, your portfolio, or the market and get instant, personalized insights in seconds
Yuan Heng Gas Holdings Ltd has issued a profit warning indicating a significant downturn in their financial performance for the fiscal year ending March 2024. The company expects a substantial decrease in gross operations revenue by 33% and a 70% drop in gross profit, alongside a shift from a profit to a loss of about RMB 165 million. These results are primarily due to a decline in global natural gas and oil prices, operational fixed costs, and an increase in impairment loss on overdue trade receivables.
For further insights into HK:0332 stock, check out TipRanks’ Stock Analysis page.