SHIN HWA WORLD (00582) issues profit warning. It is expected that the annual net loss will shrink by no more than 10% year-on-year.

SHIN HWA WORLD (00582) announces that, based on the information available to the board of directors, the group expects the comprehensive net loss for the financial year ending December 31, 2024 to decrease by no more than 10% compared to the previous financial year ending December 31, 2023. Despite the adverse impact of the decrease in fair value of investment properties, it is expected that the comprehensive net loss for this financial year will decrease, mainly due to increased comprehensive income (especially from the gaming division), reduced amortization and depreciation, and lower operating expenses. As of the date of this announcement, the group is still assessing for any impairment losses on intangible assets (if required). After considering the potential impairment losses on intangible assets that may need to be recognized, the comprehensive net loss for this financial year is expected to decrease by no more than 10% compared to the previous financial year ending December 31, 2023.