BBMG (DE:9BM) has released an update.
BBMG Corporation anticipates a significant decrease in interim results for the first half of 2024, with expected net losses reaching up to RMB 950 million, a substantial drop from the previous year’s profits. The downturn is attributed to weak demand for cement, with sales volume falling by 13.2%, and despite cost-cutting measures, operating losses have expanded. Shareholders are cautioned to be prudent when dealing in company shares due to the anticipated decline in profits.
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