FULU HOLDINGS (02101) issues profit warning, expecting the attributable profit of the parent company to decrease by approximately 65% to 85% year-on-year in 2024.

FULU HOLDINGS (02101) announced that it is expected to see a decrease of approximately 65% to 85% in its attributable net profit to the owners of the parent company for the year 2024 compared to the same period in 2023. This is mainly due to a weak overall consumer market and intensified market competition leading to a decrease in revenue and overall gross profit margins during the reporting period, which in turn affects the profitability level.