Lumina Group Limited (HK:1162) has released an update.
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Lumina Group Limited has issued a profit warning, anticipating a net loss of HK$29.8 million for the year ended 31 March 2024, which is an increase from the previous year’s net loss of HK$24.4 million. The company attributes the larger loss to a decrease in revenue due to project delays and the final phases of ongoing projects, increased competition leading to lower gross profit margins, and higher administrative expenses related to investments in short videos and animation production in China. Shareholders and potential investors are advised to exercise caution when dealing in the company’s securities.
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