Tsaker New Energy Tech (HKG:1986) expects a net profit of about 22.0 million yuan, representing a decrease of 21.0 million yuan or 48.8%, for the six months ended June 30, compared to the net profit of 43.0 million yuan for the previous year, according to a Monday filing on the Hong Kong bourse.
The company attributed the expected decline in profit to the lower average selling price of dye units and market volatility, which forced the gross profits lower and impacted the agricultural chemical intermediary products.
The China-based manufacturer and seller of dye and agricultural chemical intermediates plans to publish its interim results by the end of August.
The company's shares were down over 11% in recent trading.
Price (HKD): $0.90, Change: $-0.12, Percent Change: -11.76%
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