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An announcement from SMIT Holdings ( (HK:2239) ) is now available.
SMIT Holdings Limited has issued a profit warning, indicating an expected loss of up to US$39 million for the year ending December 31, 2024, compared to a loss of approximately US$14 million in the previous year. This increase in losses is primarily due to the company’s share of losses from associated companies, driven by ongoing R&D investments, and re-valuation losses on certain investee companies. These losses are non-cash and will not affect the company’s cash flow management. The final annual results are still being finalized and have not yet been reviewed by auditors.
More about SMIT Holdings
SMIT Holdings Limited, incorporated in the Cayman Islands, operates in the technology sector with a focus on developing and investing in research and development activities. The company is listed on the Hong Kong Stock Exchange under the stock code 2239.
YTD Price Performance: -8.51%
Average Trading Volume: 28,721
Technical Sentiment Consensus Rating: Strong Buy
Current Market Cap: HK$279.4M
Learn more about 2239 stock on TipRanks’ Stock Analysis page.