STD DEV GROUP (01867) issued a profit warning, expecting a mid-term loss of not less than approximately 17 million Hong Kong dollars.

STD DEV GROUP (01867) announced that the group is expected to incur a loss of approximately HK$17 million for the six months ending on September 30, 2024, compared to a loss of about HK$7.1 million for the six months ending on September 30, 2023. The board of directors believes that the expected increase in losses during this period is mainly due to the following factors: a decrease in revenue from the oil and construction-related businesses; an increase in impairment losses on long-outstanding trade and other receivables primarily from the group's construction-related businesses; an increase in administrative, operational, and financial expenses; and the two bio-natural gas projects invested and developed by the group have yet to generate revenue for the six months ending on September 30, 2024.