Luyuan Forecasts Up to 30% Drop in 2024 Profit

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Luyuan Forecasts Up to 30% Drop in 2024 Profit

MT Newswires Live02-24

Luyuan Group Holding (Cayman) (HKG:2451) expects a year-over-year decline of up to 30% in net profit for 2024, a Monday filing with the Hong Kong bourse said.

The Chinese electric two-wheeled vehicle company attributed the lower anticipated profit mainly to the impact of share-based payments as a result of share awards granted by the firm, a lower gross profit, and higher research and development costs.

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