---
title: "HUAXIHOLDINGS issued a profit warning, expecting the loss attributable to shareholders for the fiscal year 2024 to expand year-on-year to approximately HKD 100 million to HKD 122 million"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/233441763.md"
description: "HUAXIHOLDINGS issued a profit warning, expecting the loss attributable to shareholders for the fiscal year 2024 to expand to approximately HKD 100 million to HKD 122 million, compared to a loss of approximately HKD 41 million for the fiscal year 2023. The increase in losses is mainly due to impairment of financial and contract assets, increased losses in environmental and ecological restoration business, as well as a decrease in sales revenue from cigarette packaging products caused by intensified market competition and a decline in demand from major customers"
datetime: "2025-03-27T11:01:06.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/233441763.md)
  - [en](https://longbridge.com/en/news/233441763.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/233441763.md)
---

# HUAXIHOLDINGS issued a profit warning, expecting the loss attributable to shareholders for the fiscal year 2024 to expand year-on-year to approximately HKD 100 million to HKD 122 million

According to the announcement from HUAXIHOLDINGS (01689), the group expects to incur a loss attributable to the company's owners of approximately HKD 100 million to HKD 122 million for the year ending December 31, 2024, compared to a loss of approximately HKD 41 million for the year ending December 31, 2023.

The board believes that the increase in the loss attributable to the company's owners for this year is mainly due to the following reasons: (i) an increase in the confirmed net impairment losses on financial and contract assets, due to a higher expected loss rate applied to financially strained clients in the group's environmental and ecological restoration business, as well as a 100% expected loss rate applied to certain specific balances, as the recoverability of these amounts is extremely low due to ongoing commercial disputes with counterparties; (ii) an increase in losses from the group's environmental and ecological restoration business, as only a small number of new ecological restoration projects were obtained this year, but additional costs were incurred to maintain existing projects and secure new contracts; and (iii) a decrease in sales revenue from cigarette packaging products due to intense market competition and a decline in demand from major clients

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