Cinese International Forecasts Sharp Profit Decline

Cinese International Group Holdings Limited (HK:1620) has released an update.

Cinese International Group Holdings Limited has issued a profit warning, anticipating a loss before income tax of at least HK$19.0 million for the first half of 2024, a significant decrease from the HK$1.8 million profit reported in the same period last year. The expected loss is largely due to an increase in the allowance for expected credit losses on financial assets. Investors are cautioned to consider this information carefully and await the official interim results announcement due on 30 August 2024.

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