BeijingWest Industries Issues Profit Warning

BeijingWest International (HK:2339) has released an update.

BeijingWest Industries International Limited has issued a profit warning, anticipating a loss of between HK$40 million to HK$50 million for the first half of 2024, a stark contrast to the HK$22.7 million profit in the same period of 2023. The downturn is attributed to the absence of a substantial tax benefit received in the previous year and increased research and development costs associated with a new automotive braking product line. Investors are urged to exercise caution when dealing with the company’s securities.

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