China HK Power Forecasts Narrower Losses

China LNG Group (HK:0931) has released an update.

China HK Power Smart Energy Group Limited anticipates a reduced loss for the fiscal year 2024, with expectations of a loss between HK$110 million to HK$150 million, a notable improvement from the previous year’s HK$167 million loss. This improvement is attributed to a generated gross profit, a non-recurring loss from disposal of construction, and a one-off provision for penalty expenses due to ongoing legal proceedings. The company advises shareholders and potential investors to exercise caution when dealing in its securities.

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