Lancang ancient tea (06911) announced that the group's revenue for the six months ending on June 30, 2024 is expected to...
According to the announcement from the Zhidao Finance app, Lancang Ancient Tea (06911) expects the group's revenue for the six months ending on June 30, 2024 to decrease by no more than 17% from RMB 0.232 billion in the six months ending on June 30, 2023. At the same time, the net profit attributable to owners of the company is expected to decrease by no more than 80% from RMB 24.4 million in the first six months of 2023.
The board of directors believes that the expected decrease in net profit attributable to owners of the company in the first six months of 2024 is mainly due to the ongoing slow recovery of terminal consumption, intensified competition resulting in a decline in group revenue; and increased investment in brand promotion and product sales promotion leading to increased group sales expenses.