SUNRAY ENG GP issued a profit warning, expecting an annual net loss of no more than HKD 13.5 million
SUNRAY ENG GP issued a profit warning, expecting a net loss of no more than HKD 13.5 million for the fiscal year 2025, with a loss of approximately HKD 800,000 for 2024. The loss is mainly due to the impairment provisions for trade receivables and contract assets expected to be between HKD 12.5 million and HKD 13.5 million, as debtors may default on payments due to financial difficulties, and increased warehouse and storage costs leading to higher sales and distribution costs
According to the Zhitong Finance APP, SUNRAY ENG GP (08616) announced that the group expects to incur a net loss of no more than HKD 13.5 million in the fiscal year 2025, while the net loss for the year ending March 31, 2024, is approximately HKD 800,000.
The expected net loss for the fiscal year 2025 is primarily attributed to impairment provisions for trade receivables and contract assets (including receivables retention) ranging from HKD 12.5 million to HKD 13.5 million, related to debtors facing financial difficulties and potential payment defaults; and increased warehouse and storage costs leading to higher sales and distribution costs
