TYCOON GROUP issued a profit warning, expecting a mid-term loss of no less than HKD 7 million, turning from profit to loss year-on-year
According to the Zhitong Finance APP, TYCOON GROUP announced that compared to the group's profit before tax of HKD 24.2 million for the six months ending June 30, 2024 (the first half of 2024), the group expects to incur a loss of no less than HKD 7 million. The announcement stated that despite the challenges faced by the group's Chinese e-commerce division and weakened consumer purchasing intentions, the group is still able to achieve revenue growth and maintain a stable gross profit margin in the first half of 2025
According to the announcement from TYCOON GROUP (03390), compared to the group's profit before tax of HKD 24.2 million for the six months ending June 30, 2024 (the first half of 2024), the group expects to incur a loss of no less than HKD 7 million.
The announcement stated that despite the challenges faced by the group's China e-commerce division and weakened consumer purchasing desire, the group is still able to achieve revenue growth and maintain a stable gross profit margin in the first half of 2025
