CITIC TELECOM Group Limited has issued a profit warning, estimating that the profit attributable to Shareholders for the year 2024 will be between 0.86 billion and 0.92 billion Hong Kong dollars, a decrease of 25% to 30% compared to the year 2023. This expectation is based on a preliminary assessment of the unaudited consolidated management accounts for the 11-month period ending November 30, 2024, as well as other existing information.The decline in profits is mainly due to changes in various external environmental factors, leading some customers to make business adjustments since the second half of 2023, causing a significant year-on-year decrease in international telecommunications business revenue in the first half of 2024. The company stated that it has been consolidating its traditional telecommunications business while working hard to expand its Business and accelerate transformation and development. The earnings announcement for the year 2024 is expected to be published in mid-March 2025, and the current data has not yet been reviewed by the company's auditor or audit committee.

CITIC TELECOM Group Limited has issued a profit warning, estimating that the profit attributable to Shareholders for the year 2024 will be between 0.86 billion and 0.92 billion Hong Kong dollars, a decrease of 25% to 30% compared to the year 2023. This expectation is based on a preliminary assessment of the unaudited consolidated management accounts for the 11-month period ending November 30, 2024, as well as other existing information.The decline in profits is mainly due to changes in various external environmental factors, leading some customers to make business adjustments since the second half of 2023, causing a significant year-on-year decrease in international telecommunications business revenue in the first half of 2024. The company stated that it has been consolidating its traditional telecommunications business while working hard to expand its Business and accelerate transformation and development. The earnings announcement for the year 2024 is expected to be published in mid-March 2025, and the current data has not yet been reviewed by the company's auditor or audit committee.