SINOFORTUNE FIN issues a profit warning, expecting to turn a loss into a profit of approximately HKD 7 million in the first half of the year compared to the same period last year

SINOFORTUNE FIN expects to achieve a profit of approximately HKD 7 million in the first half of 2025, a significant turnaround from a loss of HKD 13 million in the same period of 2024. The profit is mainly attributed to the reversal of impairment losses on automobile purchase prepayments amounting to approximately HKD 18.6 million. Nevertheless, the group's sales during the interim period have significantly declined, affected by multiple challenges such as price wars in the Chinese market, geopolitical tensions, and global trade restrictions