"Profit Warning" NEW CONCEPTS forecasts annual performance to turn into a loss of no more than 100 million yuan
NEW CONCEPTS Holdings (02221.HK) issued a profit warning, expecting a loss of no more than HKD 100 million for the fiscal year ending in March, compared to a profit of HKD 2.86 million in the previous year. This is mainly due to the absence of one-time gains from the investment in intangible assets of joint ventures in 2024; an increase in fair value losses on investment properties; rising administrative expenses due to the expansion of large construction projects; and an anticipated increase in credit losses
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