HING LEE (HK) Holdings issued a profit warning, expecting annual consolidated profit attributable to shareholders of approximately HKD 15.3 million, turning a profit compared to the same period last year
HING LEE (HK) expects to achieve a consolidated profit attributable to shareholders of approximately HKD 15.3 million for the year ending December 31, 2024, turning a profit from a loss of approximately HKD 11.5 million in the same period of 2023. This turnaround is mainly attributed to the proceeds of approximately HKD 13.9 million from the sale of its wholly-owned subsidiary Success Profit International Limited, as well as a reduction in administrative expenses of approximately HKD 13.6 million
According to the announcement from HING LEE (HK) Holdings (00396), the group expects to achieve a consolidated profit attributable to the company's equity holders of approximately HKD 15.3 million for the year ending December 31, 2024, compared to a consolidated loss attributable to the company's equity holders of approximately HKD 11.5 million for the year ending December 31, 2023.
The expected turnaround from loss to profit is mainly attributed to the gain of approximately HKD 13.9 million from the sale of the entire equity of the group's wholly-owned subsidiary Success Profit International Limited, and a reduction in administrative expenses of approximately HKD 13.6 million
