Summary by Futu AI
Qin Teng Laminate Holdings Limited (“Qin Tong Laminate”) issued a profit warning, forecasting that net profit for the year ended 31 December 2023 will be at least HK$8.6 billion, down by no more than 55% compared to the same period in 2022. The decline was mainly due to a drop in market sales unit prices, although sales increased throughout the year. THE FORECAST IS BASED ON PRELIMINARY ASSESSMENTS AND UNAUDITED MANAGEMENT ACCOUNTS AND WILL BE IMPLEMENTED FOR AUDITOR REVIEW OR REVIEW BY THE AUDIT COMMITTEE. The Company will publish detailed annual results by the end of March 2024 in accordance with the listing rules.