Summary by Moomoo AI
Solargiga Holdings Limited ("the Company") issued a profit warning, forecasting a loss for the six months ended June 30, 2024. Initial estimates show that the unaudited loss attributable to shareholders of the Company is approximately RMB 95 million to 115 million, sharply contrasting with the profit of approximately RMB 100 million for the same period last year. The loss is mainly due to a decrease in shipment volume and price decline of photovoltaic components, as well as impairment of property, plants and equipment and inventory. The Company is striving to improve operational efficiency and control costs, and the Board of Directors maintains confidence in the long-term development. This warning information has not been confirmed by the auditor or audit committee and the final performance may be adjusted. The Company will announce detailed mid-term performance within the prescribed time limit.
