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The latest update is out from Nissin Foods Co., Ltd. ( (HK:1475) ).
Nissin Foods Co., Ltd. has issued a profit warning for the year ending December 2024, anticipating a significant drop in profits compared to the previous year due to one-off, non-cash impairment charges. These charges stem from asset impairments related to less profitable production facilities and distribution business, driven by weak consumer demand and economic conditions in Mainland China. Despite these challenges, the company maintains a solid operational performance and cash position, without impacting its cash flow or liquidity, and remains optimistic about its long-term prospects.
More about Nissin Foods Co., Ltd.
Nissin Foods Co., Ltd. operates in the food industry, primarily known for its instant noodles and related food products. The company has a market focus on Mainland China and Hong Kong, and it also engages in non-fried noodles and frozen foods segments.
YTD Price Performance: -8.33%
Average Trading Volume: 508,161
Technical Sentiment Consensus Rating: Sell
Current Market Cap: HK$5.74B
See more data about 1475 stock on TipRanks’ Stock Analysis page.
