NEXION TECH announced its 2024 performance, with a loss attributable to equity holders of HKD 14.695 million, an increase of 6.93% year-on-year
NEXION TECH announced its 2024 performance, with revenue of approximately HKD 15.19 million, a year-on-year increase of 19.7%. The loss attributable to equity holders was HKD 14.695 million, an increase of 6.93% year-on-year, with a loss per share of HKD 0.0165. The increase in loss was mainly due to a decrease in performance in the SaaS segment, an increase in performance in the cybersecurity solutions and IT software development segments, and a reduction in the recognition of depreciation and amortization
According to the Zhitong Finance APP, NEXION TECH (08420) announced its 2024 performance, achieving revenue of approximately HKD 15.19 million, a year-on-year increase of 19.7%; the loss attributable to equity holders of the company was HKD 14.695 million, an increase of 6.93% year-on-year; the loss per share was HKD 1.65 cents.
The announcement stated that the increase in loss was mainly due to the following combined effects: (i) a decrease in the reportable segment performance (adjusted EBITDA) of the SaaS division; (ii) an increase in the reportable segment performance (adjusted EBITDA) of the cybersecurity solutions division and IT software development division; and (iii) a reduction in the recognition of depreciation and amortization from approximately HKD 2.597 million in the fiscal year 2023 to approximately HKD 871,000 in the fiscal year 2024
