Summary by Moomoo AI
TAXION CLOUD HOLDINGS LIMITED (“TAXIYUN”) ISSUED A PROFIT WARNING ON MARCH 13, 2024, AND EXPECTED SHAREHOLDERS' PAYABLE PROFITS FOR THE YEAR ENDED DECEMBER 31, 2023 TO DECREASE BY APPROXIMATELY 50% TO 60% COMPARED TO LAST YEAR. The warning is based on preliminary assessments and available information from the Board of Directors, indicating that the decrease in profit was mainly due to an increase in the provision for impairment losses on accounts receivable and other financial assets, which is associated with an increase in accounts receivable and increased accounts receivable, which led to an increase in the provision for bad debts. THE COMPANY EMPHASIZES THAT THIS INFORMATION HAS NOT BEEN REVIEWED OR REVIEWED BY AN INDEPENDENT AUDITOR OR AUDIT COMMITTEE AND MAY BE SUBJECT TO ADJUSTMENT. Final results will be announced by the end of March 2024. Shareholders and potential investors should exercise caution.