AOWEI HOLDING issues a profit warning, expecting the annual loss attributable to shareholders to narrow to no more than approximately 350 million yuan year-on-year
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AOWEI HOLDING issued a profit warning, expecting a loss attributable to shareholders of no more than 350 million yuan for the year ending December 31, 2024, a decrease from 549 million yuan in the same period of 2023. The loss is mainly due to impairment of properties, plants, and equipment, the impact of heavy rainfall on inventory and production, and a decline in the selling price of sand and gravel aggregates leading to a decrease in gross profit margin
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