Asia Energy Expects Significant Mid-Year Loss

Asia Energy Logistics Group Limited (HK:0351) has released an update.

Asia Energy Logistics Group Limited has issued a profit warning, anticipating a net loss of around HK$22 million for the six months ending June 30, 2024, a stark contrast to the net profit from the same period the previous year. The expected loss is due to reduced telecommunications revenue, losses from the disposal of financial assets, and changes in the fair value of financial assets. Investors are urged to exercise caution and await the interim results announcement slated for August 16, 2024.

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