Asymchem Laboratories (Tianjin) (HKG:6821,SHE:002821) expects a net profit attributable to shareholders of 480.0 million yuan to 550.0 million yuan during the first half of 2024, a decrease of 67% to 72% from the previous year's net profit of 1.69 billion yuan, according to a Wednesday filing on the Hong Kong bourse.
The company attributed the expected decline in profit to a significant drop in revenue and failure to fully control costs.
The company's shares were up nearly 9% in Shenzhen and up 4% in Hong Kong trading recently.
Price (HKD): $46.65, Change: $+1.90, Percent Change: +4.25%
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