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Express News | China Wan Tong Yuan (Holdings) Ltd - Expected Result Due to Decline in Revenue From Sale of Burial Plots Resulting From Reduced Demand, Others
Express News | China Wan Tong Yuan Sees Profit and Total Comprehensive Income Attributable RMB7.00 Mln to RMB8.00 Mln for Six Months
China Wan Tong Yuan (06966.HK) issued a profit warning, expecting a decrease of approximately 43% to 50% in their interim profit.
On August 6th, Geelong announced that China Wan Tong Yuan (06966.HK) had a total profit and comprehensive income attributable to equity holders of approximately RMB 139.5 million, compared to the same period last year. The Group expects to record a total profit and comprehensive income attributable to equity holders of the company of approximately RMB 7.00 million to RMB 8.00 million for the six months ending June 30, 2024, a decrease of approximately 43% to 50%. The decrease in profit is mainly due to (i) the decrease in sales revenue from cemetery plots due to the decrease in demand for cemetery plots; (ii) the expansion of funeral projects and the extension of funeral services, resulting in travel, labor, depreciation and amortization costs.
Express News | China Wan Tong Yuan (Holdings) - Expected Result Due to a Decrease in Exchange Gains, Among Others
Express News | China Wan Tong Yuan (Holdings) Sees Profit and Total Comprehensive Income Attributable RMB7.00 Mln to RMB8.00 Mln for Six Months
C WAN TONG YUAN: PROFIT WARNING
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