New Gonow Recreational Vehicles Warns of H1 Profit Decline
MT Newswires Live
Aug 17
New Gonow Recreational Vehicles (HKG:0805) expects an unaudited net profit of between 6 million yuan and 10 million yuan for the six months ended June 30, down from 31 million yuan a year prior, according to an Aug. 14 Hong Kong bourse filing.
Shares of the company were down 1% in Monday afternoon trading.
The recreational vehicle maker attributed the forecast to the margin compression of its new vehicle models, higher operating expenses, and an investment loss from the sales of financial assets.
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