Original title: "earnings alarm sounded" 01861.HK) net profit in the first half of the year is expected to fall by more than 60% year-on-year source: AAFN

Baolong Technology expects a significant decline of not less than 60 per cent in the six months ended June 30, 2021, compared with the net profit attributable to shareholders of about 29.9 million yuan in the six months ended June 30, 2020. The expected decrease in net profit is mainly due to a decrease in overseas sales due to the protracted COVID-19 epidemic and the global economic slowdown; a sharp rise in raw material prices; and a surge in shipping costs due to longer berthing time of cargo ships during the epidemic. (ha/u) ~ Astak Financial News website: www.aastocks.com