Chow Sang Sang Holdings International (HK:0116) has released an update.
Chow Sang Sang Holdings International Limited has issued a profit warning for the first half of 2024, projecting a significant drop in profit to between HKD500 million and HKD550 million, down from HKD827 million during the same period in 2023. This decline is primarily due to lower retail revenue from jewelry and watches amidst high gold prices and challenging economic conditions, as well as unrealized losses on bullion loans. The company advises shareholders and potential investors to exercise caution when dealing in its securities.
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