Yuan Heng Gas Holdings Ltd (HK:0332) has released an update.
Yuan Heng Gas Holdings Ltd has issued a profit warning indicating a significant downturn in their financial performance for the fiscal year ending March 2024. The company expects a substantial decrease in gross operations revenue by 33% and a 70% drop in gross profit, alongside a shift from a profit to a loss of about RMB 165 million. These results are primarily due to a decline in global natural gas and oil prices, operational fixed costs, and an increase in impairment loss on overdue trade receivables.
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