Titans Energy (02188) issue profit warning, expecting the annual net loss attributable to shareholders to increase by approximately 44-47 million yuan compared to the previous year.

Titans Energy (02188) announced that compared to the company's shareholders' share of losses of approximately RMB 43.979 million for the year ending December 31, 2023, the Group expects a loss of approximately RMB 44 million to RMB 47 million for the 2024 fiscal year. The expected increase in loss for the 2024 fiscal year is mainly due to (including) an increase in administrative and other expenses; an increase in sales and distribution expenses; and a decrease in gross profit margin due to adjusting overall sales strategy to increase market share.