Tungtex (Holdings) Co (HK:0518) has released an update.
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Tungtex (Holdings) Company Limited has issued a profit warning, indicating an expected loss of HK$11.0 million to HK$14.0 million for the year ended 31 March 2024, a stark contrast to the HK$19.7 million profit from the previous year. This downturn is primarily due to a significant sales decline in North American markets, exacerbated by the challenging business environment. Shareholders and potential investors are cautioned to exercise care when trading the company’s shares.
For further insights into HK:0518 stock, check out TipRanks’ Stock Analysis page.
