Howkingtech International Holding Limited ( (HK:2440) ) just unveiled an announcement.
Howkingtech International Holding Limited has issued a clarification announcement regarding a significant profit warning for the fiscal year 2024. The company anticipates a substantial revenue decrease of 75% to 85% compared to the previous year, primarily due to delayed projects by IoT clients and reduced equipment sales. This decline, coupled with increased market competition and slower trade receivables collection, is expected to result in a net loss for the year. The announcement highlights the challenges faced by the company amidst macroeconomic uncertainties and intensified market competition, impacting its financial performance and stakeholder interests.
More about Howkingtech International Holding Limited
Howkingtech International Holding Limited operates in the technology sector, focusing on data transmission and processing services, as well as sales of equipment, primarily serving clients in the Internet of Things (IoT) industry.
YTD Price Performance: 337.14%
Average Trading Volume: 5,187,626
Technical Sentiment Consensus Rating: Strong Sell
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