CARRY WEALTH (00643) tumbled over 33% during morning trading. As of press time, the stock fell 33.33% to HK$0.54, with turnover reaching HK$20.83 million.

On the news front, CARRY WEALTH recently issued a profit warning, stating that the Group expects to record a significantly expanded net loss of approximately HK$30 million for the six months ending June 30, 2025, compared to a loss of approximately HK$12 million for the six months ending June 30, 2024.

According to the announcement, the deteriorating performance is mainly attributable to: a substantial revenue decline of approximately 70%, primarily due to significantly reduced order volumes from major customers in the United States and Europe (mainly caused by changes in customers' procurement strategies), coupled with broadening macroeconomic headwinds; a decrease in the Group's gross profit margin due to continued inflationary pressure on supply chain and subcontractor pricing despite the strategic shift to Southeast Asia; reduced sales of higher-margin children's wear; and the impact of idle costs at the Heshan facility. As disclosed in the Company's voluntary announcement dated May 24, 2024, the Heshan facility has not processed any further production orders for the Group after completing existing production orders in May 2024.