SHUNTEN INTL (00932) issues profit warning, expecting a comprehensive loss of approximately 2 to 6 million Hong Kong dollars for the mid-term shareholders.

SHUNTEN INTL (00932) announced that the group is expected to incur unaudited comprehensive losses attributable to owners of the company ranging from approximately HK$2 million to approximately HK$6 million for the six months ending on September 30, 2024, compared to a comprehensive profit of approximately HK$10.8 million for the six months ending on September 30, 2023. The board believes that the expected losses are mainly attributed to the following factors: weak local retail market conditions, weak consumer sentiment in Hong Kong and Macau, a decrease in tourist spending, and changes in consumer behavior leading to a decrease in revenue and gross profit; as well as a decrease in the fair value of investment properties during the period. Furthermore, the group has sufficient liquidity and continues to maintain a sustainable and healthy operational performance. The group is focused on taking effective measures to expand business channels, enhance brand image, optimize cost structure, and improve the company's competitive advantage. The company will leverage its strengths to strive for long-term business performance improvement.