PERFECT OPT estimates a fair value loss of approximately HKD 19.207 million for its investment in Outward Questioning for the fiscal year 2024
PERFECT OPT announced that it expects to recognize a fair value loss of approximately HKD 19.207 million from its investment in Out of the Door in the fiscal year 2024. The common shares of Out of the Door will be listed on the Stock Exchange on April 24, 2024, and the preferred shares held by the group have been converted into 25.2132 million common shares. Based on the expected closing price, the fair value as of December 31, 2024, is estimated to be approximately HKD 16.641 million, a significant decrease from the fair value gain of HKD 10.647 million as of December 31, 2023, which may have a significant adverse impact on the group's financial performance
According to the announcement from Yuanmei Optoelectronics (08311), the common shares of Outbound Ask (Outward Ask Shares) will be listed on the Main Board of the Stock Exchange starting from April 24, 2024 (02438). The preferred shares of Outbound Ask held by the Group are classified as financial assets measured at fair value through profit or loss in the Group's consolidated financial statements, with a fair value of approximately HKD 35.848 million as of December 31, 2023. With the listing of Outbound Ask Shares on the Stock Exchange, the preferred shares held by the Group have been converted into 25.2132 million shares of Outbound Ask. Based on the closing price of Outbound Ask Shares reported by the Stock Exchange on December 31, 2024, the Company estimates that the fair value of the Outbound Ask Shares held by the Group as financial assets measured at fair value through profit or loss will be approximately HKD 16.641 million as of December 31, 2024.
Therefore, based on the above, the Board of Directors wishes to inform the shareholders of the Company (Shareholders) and potential investors that the Group may recognize an estimated fair value loss of approximately HKD 19.207 million for the investment in Outbound Ask for the fiscal year ending December 31, 2024 (FY2024), compared to a fair value gain of approximately HKD 10.647 million recognized for the financial assets measured at fair value through profit or loss for the fiscal year ending December 31, 2023. Depending on the other financial performance of the Group for FY2024, which is still being prepared, the estimated fair value loss mentioned may have a significant adverse impact on the Group's consolidated financial performance for FY2024
