Xiamen Yan Palace Bird's Nest Industry (HKG:1497) expects a net profit of between 158.7 million yuan and 179.8 million yuan in 2024, down 15% to 25% from a year prior, a Friday Hong Kong bourse filing said.
The restaurant operator attributed the anticipated decline in profit mainly to higher production costs amid the relocation and production of the new green intelligent factory in May 2024, as well as lower revenue from offline channels.
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