An announcement from Skyworth Digital Holdings ( (HK:0751) ) is now available.
Skyworth Group Limited has announced a profit warning, forecasting a 35% decrease in profit for the year ending December 31, 2024, compared to the previous year. This downturn is primarily due to impairment provisions on properties and inventories caused by the prolonged slump in China’s real estate market and declining values in other business segments. Additionally, the competitive market environment has adversely affected its smart systems technology sector, resulting in reduced revenue and gross profit margins.
More about Skyworth Digital Holdings
Skyworth Group Limited operates in the technology and electronics industry, focusing on smart systems technology and modern services business sectors. It offers products such as smart devices and display modules, with a significant portion of its operations tied to the construction development business, particularly in China’s real estate market.
YTD Price Performance: -12.25%
Average Trading Volume: 613
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $782.9M
See more insights into 0751 stock on TipRanks’ Stock Analysis page.