Shares of Xinyi Glass Holdings plummeted 5.07% in intraday trading on Thursday, following the company's warning of up to 40% decline in 2024 net profit.
In a filing with the Hong Kong Stock Exchange, Xinyi Glass attributed the expected profit drop to several factors:
The Hong Kong-listed glass maker's profit outlook dampened investor sentiment, underscoring challenges faced by the company amid China's sluggish economic recovery.
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