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YADEA Dips ~9% on Profit Warning
Recommend 2 Positive 2 Negative 4 |
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YADEA (01585.HK) issued a profit warning, and opened 14.93% lower today (30 Dec). The stock bottomed at $11.4, and last slumped 8.96% to $12.2. Volume was 3.76 million shares, involving $44.6423 million. YADEA is expected to record a net profit in the range between RMB1.2 billion to RMB1.4 billion for 2024, as compared to a profit of RMB2.64 billion recorded for the previous year. The decrease in net profit is primarily attributable to the decrease in the sales volume of electric two-wheeled vehicles as a result of the inventory destocking cycle by distributors, and the decrease in selling prices of certain existing models in response to the adjustment of national standards. AAStocks Financial News |
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