Summary by Moomoo AI
Lancang ancient tea issued a profit warning, and it is expected that the revenue and attributable net profit of shareholders in the first half of 2024 will decrease by no more than 17% and 80% respectively compared with the same period in 2023. The company pointed out that the main reason for the decline in revenue is the slow recovery of terminal consumption and intensified competition, while the decrease in net profit is related to the increased brand promotion and sales promotion expenses. This forecast is based on preliminary assessments and current data and has not been reviewed by the audit committee or independent auditors. The company will announce detailed performance at the end of August 2024, reminding shareholders and potential investors to trade prudently.