TUNGTEX (HOLD)(00518) issued a profit warning, expecting the mid-term shareholders' loss to increase by no more than HKD 16 million compared to the same period last year.

TUNGTEX (HOLD)(00518) announced that the group is expected to incur a net loss of not more than HK$16 million for the period ending 30th September 2024 (6 months). Compared to the net loss of approximately HK$11 million for the period ending 30th September 2023 (6 months), the expected loss for this period is mainly attributed to pricing pressure on sales and increased production and procurement costs in an inflationary environment.