Summary by Moomoo AI
SHIJIANG AUTOMOBILE TECHNOLOGY (SUZHOU) CO., LTD. (“SHIJIANG AUTOMOTIVE TECHNOLOGY”) ISSUED A PROFIT WARNING ON MARCH 1, 2024. IT EXPECTS THE FULL-YEAR LOSS IN 2023 TO DECREASE BY APPROXIMATELY 43.5% COMPARED TO 2022, FROM RMB342.4 MILLION TO APPROXIMATELY 193.5 MILLION. The improvement was primarily attributed to the Company's termination of the issue of ancillary preferred ordinary shares to investors prior to the initial public offering, resulting in savings in associated financial costs. In addition, the increased R&D expenses partially offset the loss. THE COMPANY EMPHASIZES THAT THESE PRELIMINARY DATA HAVE NOT YET BEEN AUDITED OR REVIEWED BY AUDITORS OR AUDIT COMMITTEES AND MAY BE SUBJECT TO ADJUSTMENT. SHIJIANG AUTOMOTIVE TECHNOLOGY WILL RELEASE AUDITED ANNUAL RESULTS ON OR BEFORE MARCH 28, 2024.