Asia Tele-Net Issues Profit Warning with Expected HK$20 Million Loss

The latest announcement is out from Asia Tele-Net and Technology Corp Ltd ( (HK:0679) ).

Asia Tele-Net and Technology Corporation Limited has issued a profit warning, indicating an expected net loss of up to HK$20 million for the year ending December 31, 2024, compared to a net profit of approximately HK$304 million in the previous year. The significant decline is attributed to a decrease in the reversal of impairment losses and an increase in the loss on the change in fair value of investment properties. The company’s revenue and cost of revenue remained stable compared to the previous period. The final audited results are anticipated to be released on March 27, 2025.

More about Asia Tele-Net and Technology Corp Ltd

Asia Tele-Net and Technology Corporation Limited operates in the technology sector, focusing on providing advanced telecommunication solutions and technology services. The company is listed on the Stock Exchange of Hong Kong and is incorporated in Bermuda.

YTD Price Performance: -6.36%

Average Trading Volume: 6,781

Technical Sentiment Consensus Rating: Buy

Current Market Cap: €41.32M

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