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Carry Wealth Announces Board Meeting and Changes
Carry Wealth to Widen Loss in H1
Carry Wealth (00643.HK) plans to hold a board of directors meeting on August 29th to approve its mid-term performance.
On August 5th, Glory Hui reported that the board of directors of carry wealth (00643.HK) will hold a board meeting on Thursday, August 29, 2024 to consider and approve the unaudited mid-term performance of the company and its subsidiaries for the six months ended June 30, 2024, including the proposal to distribute interim dividends (if any).
CARRY WEALTH: (1) NOTICE OF BOARD MEETINGAND(2) CHANGE OF PRINCIPAL PLACE OF BUSINESS IN HONG KONGAND(3) CHANGE OF NAME OF AUDITOR
Carry Wealth Holdings (00643.HK) issued a profit warning: expected to incur a loss of approximately 12 million Hong Kong dollars in the midterm.
On August 2, Glorious announced that Carry Wealth Holdings (00643.HK) expects to record a loss of approximately 12.0 million Hong Kong dollars for the six months ending June 30, 2024, compared to a loss of approximately 4.5 million Hong Kong dollars in the previous period. The main reasons for these performances are: (a) increased borrowing costs due to interest rate hikes; (b) a decrease in the group's gross margin, due to (i) the idling cost of Heshan factory caused by a decrease in sales volume, and (ii) a decrease in sales of high-profit-margin children's clothing products; and (c) one-time restructuring costs related to the suspension of Heshan factory's operations.
Express News | Carry Wealth - Expected Result Due to Increase in Interest Expenses on Borrowings Due to Rate Hikes, Others
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