TEAMWAY INTL GP (01239) issues profit warning, expecting annual shareholders' loss to increase by approximately 20% to 30% year-on-year.

TEAMWAY INTL GP (01239) announced that the Group is expected to incur a loss attributable to owners of the Company for the year ending December 31, 2024, of approximately RMB 68.3 million, representing an increase of approximately 20% to 30% compared to the loss for the year ending December 31, 2023. This expected increase is primarily due to a decrease in sales of packaging products and structural components due to weakened customer demand, as well as a decrease in gross profit margin due to the diminishing economies of scale associated with the lack of competitive advantage in batch production.