"Profit Warning" SUNSHINE PAPER forecasts a 55%-65% decline in profits for the first half of the year
SUNSHINE PAPER (02002.HK) issued a profit warning, expecting that the profit for the six months ending in June will decline by approximately 55%-65% compared to the same period in 2024. This is mainly due to the decrease in paper product prices, leading to a decline in revenue and gross profit; a decrease in value-added tax amounts, resulting in a decline in unconditional government subsidies; a sluggish real estate market, exacerbating losses in the specialty paper subsidiary; and fair value losses on financial assets
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