tiprankstipranks
Trending News
More News >

InvesTech Holdings Issues Profit Warning Amid Market Challenges

Story Highlights
InvesTech Holdings Issues Profit Warning Amid Market Challenges

Don’t Miss TipRanks’ Half-Year Sale

InvesTech Holdings Limited ( (HK:1087) ) has provided an update.

InvesTech Holdings Limited has issued a profit warning for the fiscal year 2024, anticipating a significant increase in net loss to between RMB61.0 million and RMB66.0 million, compared to RMB35.4 million in 2023. This increase is attributed to a fair value loss on investment properties due to poor market conditions in Hong Kong, a decline in gross profit from intense competition in Mainland China, and an impairment of goodwill related to lower-than-expected demand for its smart office solutions. These factors, while impacting financial projections, do not immediately affect cash flows or operations.

More about InvesTech Holdings Limited

InvesTech Holdings Limited is a company incorporated in the Cayman Islands and continued in Bermuda, operating in the technology sector. The company focuses on smart office software solutions and network system integration, primarily targeting the markets in Mainland China and Hong Kong.

YTD Price Performance: 13.33%

Average Trading Volume: 1,101,043

Technical Sentiment Signal: Hold

Current Market Cap: HK$67.96M

Find detailed analytics on 1087 stock on TipRanks’ Stock Analysis page.

Disclaimer & DisclosureReport an Issue

Looking for investment ideas? Subscribe to our Smart Investor newsletter for weekly expert stock picks!
Get real-time notifications on news & analysis, curated for your stock watchlist. Download the TipRanks app today! Get the App
1