Regina Miracle Faces Profit Decline Amidst Restructuring

TipRanksNov 21 03:38 ET

Regina Miracle (02199.HK) issues a profit warning: expected mid-term net profit to decrease by no more than 40%.

Gelonghui reported on November 21 that regina miracle (02199.HK) announced that it is expected the group will record a net profit decline of no more than 40% for the six months ending September 30, 2024, compared to the same period in 2023. This decline in net profit is mainly attributed to: (i) increased restructuring costs related to the relocation of the production base in china to optimize production layout; (ii) increased financial costs due to globally high interest rates during the period; and (iii) the expansion costs of the Zhaoqing plant during initial operations. Nonetheless, compared to the second half of the previous fiscal year, the group's overall financial performance, including sales, gross profit, and net profit, has shown significant improvement.

Gelonghui FinanceNov 21 03:35 ET

Express News | Regina Miracle International - Expected Result Due to Increase of Restructuring Costs , Others

ReutersNov 21 03:34 ET

Express News | Regina Miracle International Sees Drop in Net Profit of Less Than 40% for Six Months

ReutersNov 21 03:33 ET

REGINA MIRACLE: PROFIT WARNING

HKEXNov 21 03:33 ET · Announcements

Regina Miracle Board Meeting to Discuss Interim Results

TipRanksNov 15 04:14 ET