JF Wealth Holdings Ltd (HK:9636) has released an update.
JF SmartInvest Holdings Ltd has issued a profit warning, anticipating a substantial net loss between RMB 170 million to RMB 180 million for the first half of 2024, a significant increase from the RMB 38 million loss in the same period of 2023. The expected loss is attributed to increased operating expenses for business transformation and expansion, unsatisfactory investment returns in the volatile domestic securities market, and share-based compensation costs. Shareholders and potential investors are cautioned to be prudent when dealing with the company’s shares.
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