PINE Technology Bounces Back with Strong Annual Profit

Pine Technology Holdings Limited (HK:1079) has released an update.

PINE Technology Holdings Limited reported a dramatic turnaround in its annual results for the year ended 30 June 2024, with a net profit of HK$45,019,000 compared to last year’s loss of HK$107,589,000. The improvement is attributed to a significant gain on the disposal of subsidiaries, as well as reductions in general and administrative expenses. This performance marks a substantial recovery from previous financial challenges, showcasing the company’s resilience and strategic adjustments.

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