Ruichang Forecasts 81% Plunge in 2024 Net Profit

MT Newswires Live

2025/03/14

Ruichang International (HKG:1334) forecasts its net profit to plunge 81% to 10.3 million yuan in 2024 from 55.2 million yuan in 2023, according to a Thursday filing with the Hong Kong Stock Exchange.

The petroleum refinery and petrochemical equipment manufacturer attributed the foreseen decline to lower total revenue and gross profit due to a decrease in sales, a lower gross profit margin due to competition, and higher selling and administrative costs, the filing said.

Ruichang expects to publish full-year results by the end of March.

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