Summary by Moomoo AI
Zhixin Group Holdings Limited ("Zhixin Group") has issued a profit warning, indicating a significant decline in net profit for the six months ending June 30, 2024. A preliminary review of unaudited comprehensive management accounts shows that expected net profit will be between RMB 1.0 million and RMB 3.0 million, a significant decrease from RMB 10.6 million in the same period in 2023. This decline is mainly due to losses in the ready-mixed concrete and prefabricated concrete component business, but partially offset by the net profit from the recycled iron ore tailings and eco-friendly concept brick manufacturing business. The company emphasizes that the data in the announcement is only a preliminary assessment and has not been audited or reviewed by auditors or audit committees because midterm performance has not yet been completed. The final performance is expected to be announced before the end of August 2024. Shareholders and potential investors should proceed with caution and carefully read the midterm performance announcement.