Freetech Anticipates Shift from Profit to Loss

Freetech Road Recycling Technology (Holdings) Ltd. (HK:6888) has released an update.

Freetech Road Recycling Technology (Holdings) Ltd. has issued a profit warning, anticipating a net loss of HK$8.0 million for the first half of 2024, a significant downturn from the HK$2.3 million profit reported in the same period of 2023. The expected loss is attributed to a decrease in revenue from its asphalt pavement maintenance equipment segment and a reduced reversal of impairment of trade receivables and contract assets. Shareholders and potential investors are advised to exercise caution when dealing with the company’s shares.

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