By Sherry Qin
Linklogis shares fell sharply early Monday after the company said it expects a first-half loss due to a weak macroeconomic environment, among other factors.
The stock declined 17% to 2.11 Hong Kong dollars (US$0.27), taking its year-to-date loss to 44%.
The supply-chain financing service provider expects a net loss of between 165 million yuan (US$22.7 million) and CNY175 million, it said in an exchange filing after Friday’s market close, compared with a profit of CNY43 million a year earlier. It said it also expects a 23% decline in first-half revenue.
The Shenzhen-based company attributed the expected loss to a weak macroeconomic environment, which led to some customers coming under sustained pressure. Its new pricing and sales strategies in response to the changing environment and higher impairment loss on financial assets also weighed on results.
The company said it will focus on expanding its market share and acquiring new customers. “The group is taking proactive measures to address both internal and external challenges in its operations. The board and the management hold a strong belief in the long-term growth prospects of the group,” it said.
Write to Sherry Qin at [email protected]
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