Market Insight | HUABAO INTL drops nearly 5%, expected mid-term pre-tax profit to decline by about 59% to 75% year-on-year
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HUABAO INTL fell nearly 5%, as of the time of publication, it dropped by 4.76% to HKD 2.2, with a turnover of HKD 3.2213 million. On the news front, HUABAO INTL issued a profit warning, expecting a pre-tax profit of approximately RMB 72 million to RMB 117 million as of June 30, 2024, a year-on-year decrease of about 59% to 75%. This is mainly due to the impact of non-cash impairment provisions for goodwill and other assets recognized during the period
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