HK Asia Holdings (01723) issues profit warning; it is expected that the mid-term attributable net profit to shareholders will decrease by approximately 91% year-on-year.

HK ASIA HOLDINGS (01723) announced that the group expects the profit attributable to owners of the company for the six months ending September 30, 2024 to decrease by approximately 91% compared to the same period last year. The decrease in profit attributable to owners of the company is mainly due to a decrease in the total sales value of the Hong Kong retail industry during the period, as well as an increase in discounts offered to customers by the group due to intense market competition.