Elate Holdings Limited (HK:0076) has released an update.
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Elate Holdings Limited has issued a positive profit alert, predicting a substantial increase in net profits to US$27.7 million for the first half of 2024, compared to just US$0.3 million in the same period last year. The surge is largely due to a one-off fair value gain of approximately US$26.8 million. Excluding this gain, the company still reports a profit increase, crediting stronger sales and re-aligned pricing strategies in their electronics business.
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