Tian Chang Group Holdings Ltd. (HK:2182) has released an update.
Tian Chang Group Holdings Ltd. has issued a profit warning, anticipating a significant decline in revenue and net profit for the first half of 2024, with a drop in revenue by at least 40% and a net loss increase of over 130% compared to the same period in 2023. The downturn is mainly due to reduced sales in the integrated plastic solutions and electronic cigarettes segments, influenced by global economic uncertainties and conservative consumer spending. Despite these challenges, the company’s board remains focused on managing credit and liquidity risks while adapting their strategic approach in response to market conditions.
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