Wong’s Kong King Expects Increased Mid-Year Losses

Wong’s Kong King International (Holdings) Limited (HK:0532) has released an update.

Wong’s Kong King International (Holdings) Limited has issued a profit warning, expecting a consolidated net loss of approximately HK$84 million for the first half of 2024, an increase from the HK$53.4 million loss in the same period last year. The loss is attributed to reduced turnover in the Trading Division due to decreased orders in Taiwan, increased operating loss in the Manufacturing Division despite higher turnover, and the impact of the global economic downturn and high interest rates. Shareholders and potential investors are advised to exercise caution when dealing in the company’s shares.

For further insights into HK:0532 stock, check out TipRanks’ Stock Analysis page.