Coolpad Group (HKG:2369) expects a loss attributable to the owners of about HK$245 million to HK$265 million for 2024, compared with HK$221 million a year earlier, according to a Thursday filing with the Hong Kong bourse.
The company attributed the expected wider loss to a decrease in gross profit, which declined due to clearance sales and low-margin products. There was also an increase in administrative costs along with financial costs.
The developer and manufacturer of smartphones plans to publish their financial results on or before March. 31.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.