E-Commodities Holdings (HKG:1733) expects a decrease in net profit of about HK$900 million to HK$1.0 billion for 2024, compared with the previous year, according to a Tuesday filing with the Hong Kong bourse.
The company attributed the expected decrease in profit to a weak market. This caused coking coal prices to drop continuously, resulting in reduced gross profit margins.
The company's shares were down almost 7% in the recent trading.
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