Bright Future Expects Sharp Profit Decline

Bright Future Technology Holdings Limited (HK:1351) has released an update.

Bright Future Technology Holdings Limited anticipates a significant profit decrease of approximately 66.3% for the six months ending 30 June 2024 compared to the same period in 2023. The reduction in profits is attributed to higher service costs, particularly in advertising and discounts to customers, coupled with reduced other gains following industry tax changes and decreased government grants. The company’s interim results are preliminary and subject to adjustments, with finalized results expected to be released in late August 2024.

For further insights into HK:1351 stock, check out TipRanks’ Stock Analysis page.