JUTAL OIL SER (03303) issues profit warning, expecting the shareholders' share of profits for the fiscal year 2024 to be between approximately 160 million to 210 million yuan, a decrease of approximately 18% to 37% compared to the previous year.

JUTAL OIL SER (03303) announced that it is expected to achieve a net profit attributable to owners of the company in the range of approximately RMB 160 million to RMB 210 million for the year ending December 31, 2024. This represents a decrease of approximately 18% to 37% compared to the net profit attributable to owners of the company for the year ending December 31, 2023 (RMB 255 million). The board of directors believes that the decrease in net profit for the year 2024 compared to 2023 is mainly due to a decrease in revenue and an increase in administrative expenses.