China MeiDong Auto Holdings (HKG:1268) expects a loss attributable to the equity shareholders of about 2.3 billion yuan in 2024, compared with the profit of about 100 million yuan for the corresponding period of the previous year, according to a Monday filing with the Hong Kong Bourse.
The company attributed the projected swing to loss mainly to the price competition in the automobile market and macroeconomic factors.
The company's shares were down almost 1% in the recent trading.
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