C HIGHPRECISION (00591) issued a profit warning, expecting the annual net loss to increase year-on-year to between 30 million and 34 million yuan.
China High Precision (00591) announces that the group expects to incur a net loss for the year ending June 30, 2024...
C HIGH PRECISION (00591) announced that the Group is expected to record a net loss ranging from RMB 30 million to RMB 34 million for the year ending June 30, 2024, while a net loss of approximately RMB 22.7 million was recorded for the six months ended June 30, 2023.
The announcement stated that this is mainly attributed to the fair value loss of around RMB 7.2 million on investment properties in the People's Republic of China (China) due to the downturn in the Chinese property market during the year.
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