PM PACKAGING (01820) issued a profit warning, expecting a net loss of no more than 20 million yuan for the fiscal year 2024.

PM PACKAGING (01820) announced that it is expected to incur a net loss of no more than RMB 20 million for the year ending December 31, 2024, compared to a net profit of approximately RMB 22 million for the year ending December 31, 2023. The change from net profit to net loss is mainly due to lower product prices and increased operating costs from new production facilities in Huzhou and Wuhan. Despite these circumstances, the Board of Directors expects that these factors will not have a significant adverse impact on the overall operations and cash flow of the group.