XINDA INV HLDGS issued a profit warning, expecting an annual loss attributable to shareholders of approximately 23 million to 28 million yuan
XINDA INV HLDGS issued a profit warning, expecting a loss attributable to shareholders of approximately HKD 23 million to HKD 28 million for the fiscal year 2024, an increase from the loss of HKD 18.179 million in 2023. The main reason is the poor recovery prospects for renewable energy subsidies for its 6.6 megawatt distributed photovoltaic power station, leading management to make an impairment provision of approximately HKD 53.96 million for related accounts receivable and power station assets
According to the announcement from XINDA INV HLDGS (01281), the group expects to incur a loss attributable to the owners of the company of approximately RMB 23 million to RMB 28 million for the fiscal year 2024, compared to a loss of RMB 18.179 million attributable to the owners of the company for the fiscal year ended December 31, 2023 ("2023 fiscal year").
It is reported that the expected increase in the group's loss for the fiscal year 2024 is mainly due to the following reasons: The group has a distributed photovoltaic power station with a capacity of approximately 6.6 megawatts, and management expects that the recovery of renewable energy national power generation subsidies will not be optimistic. Following the principle of prudence, the group has made a total impairment provision of approximately RMB 53.96 million for the national subsidies receivables and the power station assets related to this power station for the fiscal year 2024
