AHSAY BACKUP issues a profit warning, expecting an annual net loss not exceeding HKD 2.5 million, turning from profit to loss year-on-year
AHSAY BACKUP issued a profit warning, expecting an annual net loss of no more than HKD 2.5 million for the year ending December 31, 2024, compared to a net profit of approximately HKD 2.6 million last year. The loss is mainly due to the lack of one-time gains from subsidiaries confirmed in 2023, weak global economic conditions, reduced revenue from online backup services, and increased advertising and marketing expenses
According to the Zhitong Finance APP, AHSAY BACKUP (08290) announced that the group expects to incur a net loss of no more than HKD 2.5 million for the year ending December 31, 2024, compared to a net profit of approximately HKD 2.6 million last year.
The announcement stated that the shift from profit to loss is mainly attributed to the lack of one-time income from the cancellation of the comprehensive accounting of a subsidiary confirmed in 2023; the revenue from online backup services has decreased due to the overall weakness of the global economy and weak demand; and other expenses have increased, mainly from advertising and marketing expenditures
