Pan Asia Data Holdings, Inc. (HK:1561) has released an update.
Pan Asia Data Holdings Inc. anticipates a severe loss of at least HK$220 million for the first half of 2024, a significant jump from the HK$17.1 million loss reported in the same period of 2023. This downturn is largely due to a 67.8% drop in revenue from the company’s big data services segment, compounded by market challenges and stricter industry regulations. The company has also recognized an impairment loss of around HK$231 million related to intangible assets.
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