SMART GLOBE (01481) expects its annual post-tax loss to increase to approximately 11-13 million Hong Kong dollars compared to the previous year.

SMART GLOBE (01481) announced that the expected revenue of the group for the year ending December 31, 2024 (2024 fiscal year) will be no less than HK$110 million (including revenue generated by the group's new logistics business in Sub-Saharan Africa, which constitutes part of the group's new supply chain management service division). In comparison, the group achieved audited revenue of approximately HK$97.2 million for the year ending December 31, 2023; and the expected after-tax loss for the group in the 2024 fiscal year will be approximately HK$11 million to HK$13 million, compared to an audited after-tax loss of approximately HK$3.7 million for the 2023 fiscal year. The announcement stated that the increase in the after-tax loss for the 2024 fiscal year is mainly due to the following factors: in the 2024 fiscal year, amid intense market competition, the group adopted a more competitive pricing strategy for its printing business to attract more customer orders, resulting in an increase in revenue but a decrease in gross profit margin and gross profit; and an increase in administrative expenses (including professional and legal fees) related to the expansion of logistics business in Sub-Saharan Africa.