Summary by Futu AI
China Highprecision Automation Group Limited ("China Highprecision") issued a profit warning, forecasting a net loss for the year ending June 30, 2024, ranging from RMB 30 million to 34 million. The loss is related to the deterioration of the Chinese property market, resulting in an estimated fair value loss of around 72 million yuan. The company reminds shareholders and potential investors that the disclosed financial data is preliminary and not audited. China Highprecision is currently finalizing the annual performance and drafting work, so investors should exercise caution when buying and selling shares. The announcement was issued by Chairman Huang Xunsong on September 20, 2024.