Luyuan Group Holding (Cayman) (HKG:2451) expects a year-over-year decline of up to 30% in net profit for 2024, a Monday filing with the Hong Kong bourse said.
The Chinese electric two-wheeled vehicle company attributed the lower anticipated profit mainly to the impact of share-based payments as a result of share awards granted by the firm, a lower gross profit, and higher research and development costs.