According to the Zhitong Finance APP, NEW CONCEPTS (02221) announced that the group expects to incur a net loss attributable to the owners of the company of no more than HKD 21 million for the six months ending September 30, while the net loss attributable to the owners of the company for the six months ending September 30, 2024, is expected to be approximately HKD 14.85 million.

The announcement stated that the expected increase in losses is mainly due to the group's construction business incurring a loss of approximately HKD 7.4 million during the current period, compared to a loss of approximately HKD 700,000 in the corresponding period last year. The decline in performance is primarily attributed to the completion of several construction projects with relatively high gross profit margins in the corresponding period, while the projects ongoing during the current period generally have lower gross profit margins. The adverse impact mentioned above is partially offset by the recognition of a one-time gain of approximately HKD 3.5 million, which arises from injecting capital into an associate company through the injection of intangible assets (i.e., patented technology)