Summary by Moomoo AI
CITIC TELECOM issued a profit warning on July 19, 2024, with an expected attributable net profit of about HKD 0.455 billion for the six-month period ending on June 30, 2024, a decrease of approximately 37% from the same period in 2023. The decrease was mainly due to changes in the external environment and customer business adjustments, resulting in a decline in the information service revenue of the international telecommunications business. Faced with the complexity and uncertainty of economic development, the company is striving to expand its business and accelerate its transformation. Currently, the company is reviewing its mid-term performance, which is expected to be announced on August 16, 2024. The board of directors reminds shareholders and potential investors to act prudently when buying or selling shares.
