Zhengwei Group Forecasts Major Financial Setback

Zhengwei Group Holdings Company Limited (HK:2147) has released an update.

Zhengwei Group Holdings Company Limited anticipates a significant financial downturn with an expected consolidated net loss after tax of RMB16.0 million for the first half of 2024, a stark contrast to the net profit of RMB29.7 million in the same period the previous year. The company attributes this projected loss to macroeconomic challenges and a reduction in consumer purchasing power, which has affected gross profits. Investors are cautioned to exercise care when trading shares, as these figures are based on preliminary unaudited accounts and may be subject to change.

For further insights into HK:2147 stock, check out TipRanks’ Stock Analysis page.