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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
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