Jia Yao Holdings (HKG:1626) expects a net profit of about 48 million yuan to 55 million yuan for 2024, compared with 135.6 million yuan a year earlier.
The company attributed the forecast to higher e-cigarette expansion costs, the drop in unit selling prices, and global regulation changes affecting profitability.
The e-cigarette manufacturer plans to publish its annual results on March 28, according to a Monday filing with the Hong Kong Exchange.
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