VCREDIT Holdings Signals Lower Profits Amid Economic Challenges

VCREDIT Holdings Limited (HK:2003) has released an update.

VCREDIT Holdings Limited has issued a profit warning, projecting a significant drop in consolidated net profit and adjusted net profit for the first half of 2024, with expected figures ranging between RMB100 million to RMB140 million, down from RMB302 million and RMB304 million in the same period last year. The decline is attributed to reduced loan volumes due to weaker consumer demand, losses from new business ventures, and increased delinquency rates amid challenging macroeconomic conditions. Investors are urged to exercise caution when dealing with the company’s securities.

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