Bawang Group (01338.HK) issued a profit warning: it is expected that the net profit in the first half of 2024 will decrease by about 70% to 80% year-on-year.

Gelonghui Finance · Jun 14 09:57

Bawang Group (01338.HK) announced on June 14th that the management expects to record a net income range of approximately RMB 1 million in the first half of 2024, a decrease of about 70% to 80% from the net income of approximately RMB 4.5 million in the same period of 2023. The main reason is the increase in sales and distribution expenses from e-commerce and traditional channels in the first half of 2024, such as promotion costs for e-commerce platforms, which will have a negative impact on the group's net profit margin.

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霸王集团(01338.HK)盈警：预期2024年上半年净利同比下降约70%至80%

Bawang Group (01338.HK) issued a profit warning: it is expected that the net profit in the first half of 2024 will decrease by about 70% to 80% year-on-year.

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