WAN KEI GROUP (01718) issued a profit warning, expecting the annual net loss attributable to shareholders to be no less than HK$51 million.

WAN KEI GROUP (01718) announces that the Group expects to incur a net loss attributable to owners of the Company of not less than HK$51 million for the year ending 31 March 2025 (reporting period), compared to a net loss of approximately HK$20.6 million for the year ending 31 March 2024. During the reporting period, the Group reversed impairment losses on financial and contract assets, while it made impairment loss provisions for the year ending 31 March 2024. However, the expected increase in net loss is mainly due to the Company's expansion of its existing business to maintain the stability and sustainability of the Group's operations, resulting in an increase in sales expenses and general and administrative expenses (including director's remuneration, employee salaries, depreciation of right-of-use assets, and other operating expenses).