HK Stock Market Move | UCD(01599) fell nearly 9% in the afternoon, with an estimated year-on-year decrease in net profit of about 39% to 49% last year.

UCD (01599) fell nearly 9% in the afternoon, dropping by 8.88% at the time of reporting to HK$1.54, with a turnover of HK$2.435 million. In terms of news, UCD issued a profit warning in the afternoon, expecting the group's revenue for 2024 to be approximately RMB 8.222 billion to RMB 9.271 billion, a year-on-year decrease of around 11% to 21%; and expecting net profit for 2024 to be approximately RMB 466 million to RMB 553 million, a year-on-year decrease of around 39% to 49%. The board of directors believes that the decline in revenue and net profit is mainly due to policy adjustments in the urban rail transit industry in recent years, government approval adjustments to the number of urban rail transit lines, a decrease in the group's design business scale; influenced by the macroeconomic situation, the group's market expansion has slowed down, and the conversion rate of new track construction projects has decreased; the construction project of the Chongqing Yuxi Express Line has entered the trial operation period, resulting in a corresponding decrease in construction revenue, among other factors.