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HK stocks are fluctuating. CITIC Telecom (01883) opened more than 12% lower after warning of earnings. The estimated net profit for the mid-term is about 455 million Hong Kong dollars, a year-on-year decrease of 37%.
Citic Telecom (01883) opened more than 12% lower after profit warning. As of press time, it fell 12.36% to HKD 2.34 with a turnover of HKD 6.772 million.
CITIC Telecom International Warns of 37% Drop in H1 Profit
CITIC Telecom International Holdings (HKG:1883) expects an attributable profit of around HK$455 million for the six months ended June 30, down 37% from the year-ago period, a Friday bourse filing
Citic Telecom International Holdings Sees 1H Net HK$455M, Down 37% on Year >1883.HK
Citic Telecom International Holdings Sees 1H Net HK$455M, Down 37% on Year >1883.
CITIC Telecom Forecasts Sharp Profit Decline
CITIC Telecom (01883.HK) issued a profit warning: it is expected that the attributable net profit of the shareholders of the company in the first half of the year will be approximately HKD 0.455 billion, a decrease of 37% year-on-year.
CITIC Telecom (01883.HK) announced on July 19th that based on the preliminary evaluation of the unaudited comprehensive management accounts of the Group for the six months ended June 30, 2024, and other existing information, it is expected that the Group will record a profit attributable to shareholders of the Company of approximately HKD 0.455 billion during the reporting period, a decrease of about 37% compared to the six months ended June 30, 2023. The decrease in profit attributable to shareholders during the reporting period was mainly due to various changes in the external environment and corresponding business adjustments made by some customers since the second half of 2023. Information service revenue in the international telecommunications business during the reporting period.
Express News | CITIC Telecom International - Expected Result Due to Certain Customers Making Corresponding Adjustments to Their Businesses, Others
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