XY ELEC STORAGE issued a profit warning, expecting a consolidated loss attributable to shareholders of approximately HKD 184 million to HKD 209 million in 2024, a year-on-year turnaround from profit to loss
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XY ELEC STORAGE issued a profit warning, expecting a consolidated loss attributable to the company's owners of approximately HKD 184 million to HKD 209 million in 2024, compared to a consolidated profit attributable to the company's owners of HKD 83.1 million in 2023. The reasons for the loss include losses from the sale of battery production lines, impairment provisions related to the capitalized development costs of lithium battery products, and impairment provisions for production facilities and intangible assets related to new energy products due to price declines and accelerated technological developments
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