Tao Heung Holdings Forecasts Sharp Profit Drop

Tao Heung Holdings Limited (HK:0573) has released an update.

Tao Heung Holdings Limited cautions shareholders and potential investors of a significant profit decline, anticipating a profit of HK$3 million to HK$8 million for the six months ended June 30, 2024, a stark decrease from the HK$33 million reported in the previous year. The downturn is attributed to a 10-20% drop in revenue and impairment losses on underperforming assets. Amidst challenging global economic conditions and competitive markets, the company is focusing on cost control, market-aligned product offerings, and brand strengthening efforts.

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