SMIT Holdings Anticipates Significant Mid-Year Loss

SMIT Holdings (HK:2239) has released an update.

SMIT Holdings Limited has issued a profit warning indicating an expected loss of up to US$16 million for the six months ended 30 June 2024, contrasting with the net profit of US$0.3 million in the same period the previous year. The anticipated loss is largely due to the increased share of losses from ongoing investment in research and development by investee companies, coupled with the absence of dilution gain from divestments. Shareholders and potential investors are advised to exercise caution and await the forthcoming detailed interim results announcement.

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