SING LEE (08076) issued a profit warning, expecting a increase in losses of approximately 40.6% for the fiscal year 2024.

SING LEE (08076) announced that it recorded a loss of approximately 8.264 million RMB for the year ending December 31, 2023. The group expects to incur a loss of approximately 12 million RMB for the year ending December 31, 2024, an increase of about 40.6%. This increase in loss is mainly due to a decrease in revenue from technical support services and software product sales. Although the unaudited financial performance of the group for the year ending December 31, 2024 may show a loss, the board of directors believes that the overall financial condition of the group is stable and therefore remains optimistic about the future. The board emphasizes that the group's financial condition is stable and has sufficient cash resources to meet its current and future cash flow needs. The board will continue to review the group's strategies and operations to enhance business performance and shareholder returns.