BaWang International (Group) Holding Limited provided earnings guidance for the first half of 2024. For the period, the company have a relatively lower net profit for the first half of 2024 of around RMB 1.0 million, representing a decrease of approximately 70 % to 80 % as compared with the net profit of RMB 4.5 million for the same period last year. The primary reason for the decrease in net profit is due to an increase in selling and distribution expenses incurred for both online and conventional channels, such as online platform promotion fees, during the first half of 2024, which negatively impact the Group's net profit margin.
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Jun. 19 | Bawang International Holding Limited Announces Management Changes | CI |
Jun. 17 | BaWang International Expects 70% to 80% Lower Profit for H1 2024 | MT |
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