Summary by Moomoo AI
Xiamen Yan Zhi Wu Swallow Nest Industry Co., Ltd. issued a profit warning on July 16, 2024, disclosing its financial status for the six months ending June 30, 2024. The company expects revenues during this period to be approximately CNY 1,045 million to CNY 1,090 million, a year-on-year increase of about 10% to 15%. However, net profit is expected to decrease by approximately 40% to 50%, totaling about CNY 50.0 million to CNY 60.0 million. The company pointed out that the increase in revenue benefited from strong growth in online sales, while the decrease in net profit was mainly due to the increase in brand ambassador promotion expenses in the first half of the year, as well as the rise in production costs caused by the relocation and commissioning of...Show More
