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Texhong Textile Group ( (HK:2678) ) has provided an update.
Texhong International Group Limited has issued a positive profit alert, anticipating a net profit of approximately RMB580 million for the year ended December 31, 2024, compared to a net loss of RMB299 million in 2023. This expected turnaround is attributed to a recovery in market demand within the textile industry, improved sales volume, and increased capacity utilization, along with effective cost management strategies that reduced selling and interest expenses.
More about Texhong Textile Group
Texhong International Group Limited operates in the textile industry, focusing on manufacturing and selling textile products. The company is known for its efforts in cost management and adapting to market demands, which is critical given the volatile nature of raw material prices and international trade policies.
Average Trading Volume: 10,000
Current Market Cap: $730.7M
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