TITANS ENERGY issued a profit warning, expecting the annual loss attributable to shareholders to expand to approximately 44 million to 47 million yuan year-on-year
TITANS ENERGY issued a profit warning, expecting the loss attributable to shareholders for the fiscal year 2024 to expand to approximately HKD 44 million to 47 million, an increase from about HKD 43.979 million in 2023. The increase in losses is attributed to rising administrative and other expenses, increased sales and distribution expenses, and a decline in gross margin due to adjustments in sales strategy
According to the announcement from TITANS ENERGY (02188), compared to the company's expected loss attributable to shareholders of approximately RMB 43.979 million for the year ending December 31, 2023, the group anticipates a loss attributable to shareholders of approximately RMB 44 million to RMB 47 million for the fiscal year 2024.
The increase in expected losses for the fiscal year 2024 is mainly due to (including) increased administrative and other expenses; increased selling and distribution expenses; and a decrease in gross profit margin due to adjustments in the overall sales strategy to increase market share
