ECO-TEK HLDGS issued a profit warning, expecting an annual loss attributable to shareholders of approximately HKD 2.5 million to HKD 3.5 million, a year-on-year turnaround from profit to loss

ECO-TEK HLDGS issued a profit warning, expecting to record a loss attributable to shareholders of approximately HKD 2.5 million to HKD 3.5 million for the year ending October 31, 2024, compared to a profit of HKD 5.6 million in the same period last year. The loss is mainly due to a decrease in gross profit of approximately HKD 6 million, affected by the decline in water selling prices from the water treatment plant business and the depreciation of the Renminbi. Changes in customer structure have led to a reduction in the proportion of high-priced customers. The group is taking measures to accelerate the collection of accounts receivable and is considering making provisions for expected credit losses of approximately HKD 2 million to HKD 3 million