Solargiga Energy Holdings ( (HK:0757) ) has issued an update.
Solargiga Energy Holdings Limited has issued a profit warning, indicating an expected unaudited loss ranging from RMB200 million to RMB240 million for the year ended December 31, 2024. This anticipated loss is attributed to an oversupply in the photovoltaic industry, leading to fierce competition and significant price reductions across the industry chain, affecting the company’s revenue and operating results. Additionally, the company expects to recognize an impairment loss on its property, plant, and equipment due to reduced shipment volumes and idle production lines. Despite these challenges, the company remains confident in its long-term development and is committed to enhancing operational efficiency and controlling costs.
More about Solargiga Energy Holdings
Solargiga Energy Holdings Limited is a company incorporated in the Cayman Islands, primarily engaged in the photovoltaic industry. The company focuses on the production and sale of photovoltaic modules, which are critical components in solar energy systems.
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $29.09M
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