SH GROUP HLDG issued a profit warning, expecting an annual net profit of no less than HKD 2 million, turning a profit compared to a loss in the same period last year
SH GROUP HLDG expects its annual net profit for the year ending March 31, 2025, to be no less than HKD 2 million, turning a profit from a loss, compared to a net loss of approximately HKD 15.2 million for the same period in 2024. The board pointed out that the main reasons for the turnaround include the non-cash nature of the increase in the value of financial assets and the recognition of higher profit margins upon project settlement, leading to an increase in revenue and gross profit
According to the Zhitong Finance APP, SH GROUP HLDG (01637) announced that it expects the group to achieve a net profit of no less than HKD 2 million for the year ending March 31, 2025, while the net loss for the year ending March 31, 2024, is approximately HKD 15.2 million.
The board of directors believes that the expected turnaround from loss to profit for the year ending March 31, 2025, is mainly attributed to the following factors:
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Increase in the value of financial assets measured at fair value through profit or loss, which is a non-cash nature;
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Settlement of engineering change orders upon completion of certain projects, confirming higher profit margins than previously, leading to an increase in revenue and gross profit
