After the warning of profit, Citic Telecom (01883) fell more than 12% at the opening, as of the release, it fell 12.36%, to HKD 2.34, with a turnover of HKD 6.772 million.
According to the WiseNews, Citic Telecom (01883) fell more than 12% at the opening after the warning of profit. As of the release, it fell 12.36% to HKD 2.34, with a turnover of HKD 6.772 million.
Citic Telecom announced that it is expected to record a attributable net profit of approximately HKD 0.455 billion for the six months ending June 30 in the reporting period, a decrease of approximately 37% from the six-month period ending June 30, 2023.
The company pointed out that since the second half of last year, some customers have made corresponding adjustments to their business, and the revenue from message services in the international telecommunications business has decreased significantly compared with the corresponding period. In response to the increasingly complex, severe, and uncertain economic development environment, traditional telecommunications businesses face more challenges and difficulties, and the company is consolidating traditional telecommunications businesses while actively expanding and accelerating transformation and development.