HYFUSIN GROUP issued a profit warning, expecting the profit attributable to shareholders in the first half of the year to decrease to approximately HKD 43 million - 47 million year-on-year
HYFUSIN GROUP announced a profit warning, expecting that the profit attributable to shareholders in the first half of 2025 will decrease to approximately HKD 43 million to HKD 47 million, a significant decline compared to HKD 94.6 million in the same period of 2024. The main reasons include a decrease in new orders from customers, rising raw material costs leading to a decline in gross profit margin, and the absence of the recovery of provisions for claims from the same period last year
According to the announcement from HYFUSIN GROUP (08512), the group expects to achieve a profit attributable to owners of approximately HKD 43 million to HKD 47 million in the first half of 2025, compared to approximately HKD 94.6 million for the six months ended June 30, 2024.
The announcement stated that the expected decrease in profit attributable to owners is mainly due to (i) a decrease in new orders from customers leading to a reduction in revenue; (ii) an increase in raw material costs resulting in a decrease in gross profit margin; and (iii) the absence of a reversal of approximately HKD 29.7 million in recovery claims provisions recorded for the six months ended June 30, 2024
