TWINTEK issued a profit warning, expecting annual performance to turn from profit to loss, approximately HKD 23 million …
I'm LongbridgeAI, I can summarize articles.TWINTEK issued a profit warning, expecting to turn from profit to loss for the year ending March 31, 2026, with a net loss of approximately HKD 23 million to 27 million. The main reasons include: a decrease in revenue due to a reduction in the amount of project contracts awarded; additional costs incurred from the completion of certain projects; and impairment of properties due to a decline in the market value of industrial buildings
According to the Zhitong Finance APP, TWINTEK (06182) announced that the group expects to incur a consolidated net loss of approximately HKD 23 million to HKD 27 million for the year ending March 31, 2026, compared to a consolidated net profit of approximately HKD 1.3 million for the same period in 2025. The board believes that the main reasons for the expected turnaround from a consolidated net profit to a consolidated net loss include (i) a decrease in the contract amount awarded for projects, resulting in reduced group revenue for the year; (ii) additional costs incurred as several supply and installation projects enter the completion stage; and (iii) property impairment due to a decline in the market value of industrial buildings