Huisheng Holdings (02127) fell more than 18% during the day, as of the publication, down 6.78%, at HK$0.055, with a turnover of HK$1.6059 million.
According to the China Finance app, Huisheng Holdings (02127) fell more than 18% during the day, as of the publication, down 6.78%, at HK$0.055, with a turnover of HK$1.6059 million.
On the news side, Huisheng Holdings will release its performance on August 30. The company had issued a profit warning at the end of July, expecting a loss of RMB 0.25 billion to RMB 0.35 billion in the first half of the year, compared to a net profit of RMB 0.16 billion in the same period last year, a year-on-year change from profit to loss. The company issued a clarification announcement on August 22, stating that it expects a loss of approximately RMB 0.35 billion to RMB 0.4 billion in the first half of the year.
The company stated that the losses during the period were mainly due to the continued global economic downturn and the impact of the sluggishness of the home industry. Business revenue of the company significantly declined, leading to a year-on-year decrease in revenue. In addition, due to the continued impact of trade tariffs, the overall gross margin decreased, resulting in a loss for the company in the first half of the year.