SIM Technology Group Expects Increased H1 Losses

SIM Technology Group (HK:2000) has released an update.

SIM Technology Group Limited has issued a profit warning, anticipating a loss of HK$75.0 to HK$105.0 million for the first half of 2024, compared to a loss of approximately HK$50.4 million in the same period the previous year. This expected loss is largely attributed to a significant decrease in the fair value of investment properties and a foreign exchange loss due to the depreciation of RMB against USD. The company is cautioning shareholders and potential investors to be wary when dealing with the company’s securities, as these figures are preliminary and subject to change upon final assessments.

For further insights into HK:2000 stock, check out TipRanks’ Stock Analysis page.