HK Stock Market Move | GAUSH MEDITECH (02407) plunged more than 20% after issuing a profit warning. It is expected that the net profit for the fiscal year 2024 will decrease by about 48.8% to 53.6% compared to the previous year.

GAUSH MEDITECH (02407) fell more than 20% after issuing a profit warning, dropping by 20.27% to HK$6.46 as of press time, with a trading volume of HK$4.4211 million. On the news front, on March 7th, GAUSH MEDITECH announced that it expects to achieve a net profit of approximately RMB 80.20 million to RMB 88.60 million in the 2024 fiscal year, a decrease of about 48.8% to 53.6% compared to the previous year. The announcement stated that despite the impact of economic conditions and competitive pressure, the group continues to actively expand its sales field and, relying on mature sales channels, comprehensive pre-sales support and after-sales service, excellent market promotion, and product portfolio strategies, is expecting a significant increase in revenue in the second half of 2024 compared to the first half, and maintaining a relatively stable revenue in the 2024 fiscal year compared to 2023. However, due to factors such as exchange rate fluctuations and the implementation of national procurement policies for artificial crystals, the group's comprehensive gross profit margin has decreased, resulting in a decrease in gross profit.