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The latest announcement is out from Huabao International Holdings ( (HK:0336) ).
Huabao International Holdings Limited has issued a profit warning, indicating an expected loss before tax ranging from RMB305 million to RMB455 million for the year ending December 31, 2024. This significant downturn is primarily attributed to impairment losses on tobacco flavors assets, impairment of other goodwill and assets, share-based employee expenses, and fair value changes related to asset reclassification. The company notes a decrease in revenue due to changes in demand from major customers and adjustments in procurement policies, leading to a conservative future sales forecast. Huabao is conducting a routine annual assessment and plans to publish its final annual results by the end of March 2025.
More about Huabao International Holdings
Huabao International Holdings Limited is a company incorporated in Bermuda, primarily engaged in the flavours and fragrances as well as food ingredients industry. The company focuses on producing tobacco flavors, reconstituted tobacco leaves, and other related products, serving major clients within the tobacco flavor industry.
YTD Price Performance: 1.92%
Technical Sentiment Consensus Rating: Strong Buy
Current Market Cap: $875.1M
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