Precious Dragon Technology Holdings Ltd. ( (HK:1861) ) has provided an update.
Precious Dragon Technology Holdings Ltd. has announced a profit warning and plans to recognize an impairment provision of approximately HK$6.6 million for its production plant in Thailand. The anticipated decline in net profit for FY2024 is attributed to increased promotional expenses and operational challenges, including issues with raw material supply and labor turnover in Thailand, leading to an expected decrease in net profit of at least 39% compared to the previous year.
More about Precious Dragon Technology Holdings Ltd.
Precious Dragon Technology Holdings Ltd. is a company incorporated in the Cayman Islands, operating within the technology sector. The company focuses on the production and development of technological products, with a market presence that includes a production plant in Thailand.
YTD Price Performance: -12.73%
Average Trading Volume: 42,409
Technical Sentiment Consensus Rating: Buy
Current Market Cap: HK$231.6M
Learn more about 1861 stock on TipRanks’ Stock Analysis page.