Tsaker New Energy Tech Profit Expects Nearly 50% Profit Decline in H1, Shares Down 11%

MT Newswires Live07-30

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%

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment