GROWN UP GROUP issues a profit warning, expecting a mid-term net loss to expand by approximately 40% to 50% year-on-year
GROWN UP GROUP issued a profit warning, expecting a net loss in the first half of 2025 to increase by approximately 40% to 50% year-on-year, compared to a loss of HKD 5.8 million in the first half of 2024. The increase in loss is mainly due to a slight decline in revenue, an increase in unrealized losses on listed securities investments, and rising administrative expenses
According to the announcement from GROWN UP GROUP (01842), compared to a net loss of approximately HKD 5.8 million for the six months ending June 30, 2024, the group may experience an increase in net loss of approximately 40% to 50% in the first half of 2025. The expected increase in net loss for the first half of 2025 is primarily due to (i) a slight decline in revenue for the first half of 2025, mainly due to ongoing tariff-related pressures in the United States; (ii) the recognition of unrealized losses of approximately HKD 3.3 million on listed securities investments for the first half of 2025, compared to a loss of HKD 2.2 million in the first half of 2024; and (iii) an increase in administrative expenses of approximately HKD 1.9 million, mainly due to the group's efforts to strengthen its diversified supply chain network and promote business development measures
