AHSAY BACKUP (08290) issues profit warning, expecting a net loss of no more than HK$2.5 million for the year, turning from profit to loss year-on-year.

AHSAY BACKUP (08290) announced that the group is expected to incur a net loss of no more than HK$2.5 million for the year ending December 31, 2024, compared to a net profit of approximately HK$2.6 million last year. The announcement stated that the change from profit to loss is mainly attributed to the lack of one-time gains from the cancellation of a consolidated subsidiary's comprehensive income recognized in 2023; a decrease in revenue from online backup services due to global economic weakness and soft demand; and an increase in other expenses, primarily from advertising and marketing expenses.