Grand Baoxin Auto Group (DE:6BA) has released an update.
Grand Baoxin Auto Group Limited has issued a profit warning, anticipating a loss of up to RMB 100 million for the first half of 2024, a significant downturn from the RMB 324 million profit in the same period the previous year. The company attributes this expected loss to reduced market consumption, increased competition, and aggressive pricing strategies from major OEMs that have adversely impacted sales and gross profit margins. Shareholders and potential investors are advised to exercise caution when dealing in the company’s shares.
For further insights into DE:6BA stock, check out TipRanks’ Stock Analysis page.
