AEC Group (08320) issues profit warning, expected to have a mid-term loss of approximately 5.9 million Hong Kong dollars attributable to shareholders, turning from profit to loss year-on-year.
Pei Ran Environmental Protection (stock code 08320) announced that the group expects to acquire the entire ownership of the company by the end of the six months ending September 30, 2024.
AEC GROUP (08320) announced that the group is expected to incur a loss of approximately HK$5.9 million for the six months ending on September 30, 2024, attributable to the owners of the company. This is a significant decrease compared to the profit of approximately HK$48,000 attributable to the owners of the company for the six months ending on September 30, 2023. The shift from profit to loss is mainly due to a decrease in revenue and gross profit margin, increased employee costs to retain talent, and increased expenses for the expansion of overseas business.
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