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Pu'er Lancang Ancient Tea Forecasts Up to 17% Decline in H1 Profit
Lancang Ancient Tea (06911.HK) issued a profit warning: It is expected that the net profit for the first half of the year will decrease by no more than 80% year-on-year.
On August 7th, Gelunhui announced that Lancong Ancient Tea (06911. HK) is expected to reduce the group's revenue for the first six months of 2024 by no more than 17% compared to the first six months of 2023 ("first six months of 2023") of RMB 0.232 billion yuan, and the net profit attributable to shareholders of the company will decrease by no more than 80% compared to the first six months of 2023, which was RMB 24.4 million yuan. The board of directors believes that the expected decrease in net profit attributable to shareholders of the company for the first six months of 2024 is mainly due to, on the one hand, slow recovery of terminal consumption and intensified competition, which led to a decrease in the group's revenue.
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Shareholders of Lancang Ancient Tea (06911) are expected to receive interim profits.
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Express News | Puer Lancang Ancient Tea Sees Decrease in Profit Attributable for Six Months Will Not Exceed 80%
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