China Harmony Auto Reports Financial Challenges Amidst Competitive Market
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China Harmony Auto Holding Limited (HK:3836) reported financial challenges in its 2024 Annual Report, citing an expected credit loss of approximately RMB139.6 million due to issues with the Independent Aftersales Company (IAC). The company's financial struggles are attributed to intense competition in the new energy vehicle market. Despite operational optimization efforts, IAC's financial position worsened, affecting stakeholders' perceptions of the company's stability. Analysts currently rate the stock as a Hold with a price target of HK$1.00.
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