BAIC BluePark New Energy Technology (SHA:600733) expects to incur a loss attributable to shareholders of between 6.50 billion yuan and 6.95 billion yuan in 2024, narrowing from the year-ago loss of 5.40 billion yuan or 1.07 yuan per share, according to a Shanghai Stock Exchange disclosure on Jan. 24.
The Chinese automobile company attributed the forecast to stringent competition within the new energy vehicle market, an increase in research and development costs and pressure on product costs.
BAIC's shares jumped less than 6% in recent trade.
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