---
title: "WING FUNG GROUP expects a profit alert, anticipating an annual net profit of approximately HKD 600,000 to about HKD 1.6 million"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/230450115.md"
description: "WING FUNG GROUP expects its annual net profit for the year ending December 31, 2024, to reach approximately HKD 600,000 to HKD 1.6 million, a significant improvement compared to a loss of HKD 35.9 million in the same period of 2023. The board pointed out that the turnaround in profit is mainly attributed to increased revenue, good cost control, reversal of impairment losses, and unrecognized write-off of contract assets"
datetime: "2025-03-04T08:58:07.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/230450115.md)
  - [en](https://longbridge.com/en/news/230450115.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/230450115.md)
---

# WING FUNG GROUP expects a profit alert, anticipating an annual net profit of approximately HKD 600,000 to about HKD 1.6 million

According to the announcement from WING FUNG GROUP (08526), the group expects to achieve a net profit of approximately HKD 600,000 to approximately HKD 1.6 million for the year ending December 31, 2024 (the relevant period), compared to a net loss of approximately HKD 35.9 million for the same period in 2023.

The board of directors believes that the expected turnaround from loss to profit during the relevant period is mainly due to increased revenue; better cost control; the reversal of impairment losses on trade receivables and contract assets for the relevant period; and no write-off of contract assets during the relevant period, whereas a write-off of approximately HKD 11.2 million of contract assets was recognized for the year ending December 31, 2023

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