Wuling Motors Holdings Ltd (00305.HK) saw its shares soar 5.43% in Thursday's pre-market trading session, following the announcement of an expected net profit of RMB 104 million for the fiscal year 2024.
The Chinese automaker attributed the anticipated profit to a decrease in general and administrative expenses during the year. This positive outlook has boosted investor confidence in the company's prospects, driving the stock's price higher.
The market responded favorably to the news, as Wuling Motors' profit forecast signals a potential turnaround in its financial performance. Investors are optimistic about the company's cost-cutting measures and their impact on profitability.
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