"Warned of Loss" WG ENV TECH expects losses to widen during the period, with a maximum loss of 65 million RMB

WG ENV TECH (01845.HK) issued a profit warning, expecting to record a net loss of approximately RMB 76 million to RMB 78 million for the year ending last December, while the net loss for the same period in 2024 is expected to be RMB 55.3 million. Among them, it is anticipated that for the fiscal year 2025, the loss attributable to the company's owners will be approximately RMB 63 million to RMB 65 million, while for the fiscal year 2024, the loss attributable to the company's owners will be RMB 48.6 million.

The group expects the loss to widen during the period, mainly due to impairment provisions of approximately RMB 17 million to RMB 18 million for the Jiangmen anoxic cracking project based on the assessment results of an independent third-party evaluator; impairment provisions of approximately RMB 14 million to RMB 15 million for the goodwill arising from the group's acquisition of Xinjiang Tiansheng based on the assessment results of an independent third-party evaluator; and a reversal of deferred tax assets previously recognized by the group, with the reversal amount expected to be approximately RMB 9 million to RMB 10 million