【Company Profit Warning】TWINTEK expects to incur a loss of up to 27 million yuan for the entire fiscal year
I'm LongbridgeAI, I can summarize articles.TWINTEK issued a profit warning, expecting to turn from profit to loss for the full year ending March this year, with a consolidated net loss ranging from HKD 23 million to HKD 27 million. The company pointed out that the main reasons for the loss include a decrease in project contract amounts leading to a decline in revenue, additional costs arising from the completion of certain supply and installation projects, and property impairment caused by the decline in the market value of industrial buildings
According to a report from Economic Information Agency on the 10th, TWINTEK (06182) issued a profit warning, expecting to turn from profit to loss for the full year ending in March this year, with a consolidated net loss estimated between HKD 23 million and HKD 27 million, compared to a net profit of approximately HKD 1.3 million in the same period last year.
The company believes that the main reason for the expected turnaround from consolidated net profit to consolidated net loss is the decrease in the contract amount for awarded projects, leading to a reduction in group revenue; additional costs incurred as certain supply and installation projects enter the completion stage; and property impairment due to the decline in the market value of industrial buildings. (rh)