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CHINA ORIENTED: Interim Report 2024
CHINA ORIENTED: ANNOUNCEMENT ON THE INTERIM RESULTSFOR THE SIX MONTHS ENDED 30 JUNE 2024
China Oriented International to Shrink Loss in H1
Chasing International (01871.HK) is estimated to have a loss of 2 to 2.5 million RMB in the first half of the year.
China-oriented company (01871.HK) issued a profit warning, expecting a loss of between RMB 2 million and 2.5 million for the six-month period ending in June, compared to RMB 3.3 million in the same period last year. The decrease in revenue from training services for large vehicles' drivers is the main reason, and also the drop in gross profit and gross margin of the business. However, it was offset by the recognized tax deductions.
China Oriented International Foresees Reduced Losses
China oriented (01871.HK) is expected to narrow its net loss in the mid-term compared to the previous year.
China-oriented (01871.HK) announced on August 15th that based on a preliminary assessment of the unaudited comprehensive management accounts of the group for the six months ending June 30, 2024, compared with a net loss of approximately RMB 3.3 million for the six months ending June 30, 2023, the group is expected to record a net loss of approximately RMB 2 million to approximately RMB 2.5 million. The board of directors believes that the main reasons for the above changes are as follows: (I) the revenue from the driving training service business for large vehicles of the group has decreased, due to the continuing tense trade relations between China and the United States that have continued to affect the market conditions in the logistics industry.
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