BRIEF: China High Speed Transmission swings to red in first half of 2024
0658.HK
Wind power equipment maker China High Speed Transmission Equipment Group Co. Ltd. (0658.HK) warned on Tuesday that it expects to report a loss of up to 530 million yuan ($74 million) for the first half of this year, reversing a profit of 209 million yuan profit in the year-ago period.
It blamed its swing into the red on falling profits for its transmission equipment business during the period and increased impairment losses on receivables from other businesses compared with the same period last year.
Reporting by Lau Chi Hang
To subscribe to Bamboo Works free weekly newsletter, click here
RELATED ARTICLES
-
Goldwind’s profit tumbles as China sales start to deflate
2208.HK 002202.SHE - Stiff competition, weak margins put high pressure on Baishan Cloud’s IPO parade
- CHINA BULLETIN: Local Governments Crushed by Debt
- IPO-bound Guofu stuck at low end of hydrogen-power food chain
-
Solar glut rains on Xinyi Energy’s profit parade
3868.HK
- CHINA BULLETIN: China-U.S. Rapprochement Continues with Xi-Biden Call, Yellen Visit
