Solartech Expects Reduced Annual Losses

Solartech International Holdings Limited (HK:1166) has released an update.

Solartech International Holdings Limited cautions shareholders and potential investors as it anticipates a loss of HK$87 million to HK$93 million for the year ended 30 June 2024, which, while still a loss, shows a significant improvement from the previous year’s HK$176.7 million loss. This expected reduction is attributed to increased turnover and gross profit, a reversal of impairment loss on mining rights, and a deferred tax credit. The company emphasizes that these are preliminary figures based on unaudited accounts and the final audited results will be published on 28 September 2024.

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