ASIA TELE-NET issued a profit warning, expecting a mid-term net profit of no less than HKD 13 million, a year-on-year decrease
ASIA TELE-NET issued a profit warning, expecting that the interim net profit for the period ending June 30, 2025, will not be less than HKD 13 million, a year-on-year decrease from approximately HKD 29 million in the same period last year. The main reasons for the decrease in net profit include an increase in losses from changes in the fair value of investment properties, partially offset by gains from the fair value of trading investments and exchange gains from the appreciation of the RMB
According to the announcement from ASIA TELE-NET (00679), the group expects a net profit of no less than HKD 13 million for the six-month period ending June 30, 2025 (review period), compared to a net profit of approximately HKD 29 million for the six-month period ending June 30, 2024 (last year period).
The announcement stated that the key factors leading to the decrease in net profit include (among others) an increase in losses from changes in the fair value of investment properties; and part of this loss was offset by increased fair value gains from trading investments and exchange gains resulting from the appreciation of the Renminbi
