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Town Ray Holdings Forecasts 45% Plunge in H1 Profit
Townray Hldgs (01692.HK) issued a profit warning, expecting a YoY reduction of approximately 45.0% in net profit for the first half of the year.
On July 26, Gelunhui reported that Townray Holdings (01692.HK) expects to record unaudited profit attributable to owners of approximately HKD 4 million for the six months ending June 30, 2024, compared to approximately HKD 87.3 million for the six months ending June 30, 2023, a decrease of approximately 45.0%. The board of directors believes that the decrease in unaudited profit attributable to owners during this period is mainly due to certain European customers of the group clearing excess inventory, resulting in a decrease in demand for the group's electric home appliances. However, the company expects these to recover soon.
Express News | Town Ray Holdings - Expected Result Due to Decrease in Revenue Due to Certain Customers of Group in Europe , Among Others
Express News | Town Ray Holdings Ltd Sees Unaudited Net Profit Attributable for Hy HK$48.0 Million
TOWNRAY HLDGS: PROFIT WARNING
Townray Hldgs (01692): Chen Deyi appointed as Chairman of the Audit Committee.
Denghui Holdings (01692) announced that Chen Bingyan had informed the board of directors previously that he would not seek re-election due to his decision to devote more time to his other personal or business responsibilities, and he would retire as an independent non-executive director at the end of the shareholders' annual meeting. After the shareholders' annual meeting, Chen Bingyan has retired as an independent non-executive director. After Chen Bingyan retires as an independent non-executive director, he will no longer serve as the chairman of the audit committee, as well as a member of the remuneration committee and the nomination committee. After Chen Bingyan ceases to serve as chairman of the audit committee, the board of directors resolved to appoint independent non-executive director Chen Deyi as the chairman of the audit committee.
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