BaWang International (Group) Holding Limited (HK:1338) has released an update.
BaWang International (Group) Holding Limited has issued a profit warning for the first half of 2024, projecting a significant drop in net profit of 70 to 80 percent compared to the previous year, mainly due to increased selling and distribution expenses. Investors are advised to exercise caution when dealing with the company’s shares. The company’s management attributes the decline to higher marketing costs for online and conventional sales channels.
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