PEGASUS INT'L (00676) issues profit warning. It is expected to incur a pre-tax loss of 1.5 million US dollars for the year 2024.

PEGASUS INT'L (00676) announced that the group is expected to report a pre-tax loss of $1.5 million for the year ending December 31, 2024, compared to a pre-tax profit of $120,000 for the same period in 2023. The expected loss is mainly due to the sluggish property market in China, resulting in an estimated fair value loss of about $2.8 million on the group's investment properties for the period. The board of directors believes that the group's overall operating and cash position remains strong, as the fair value loss is a non-cash item that will not have any impact on the group's cash flow and operations. The group's cash position as of December 31, 2024 is estimated to be approximately $8.8 million.