Gold Peak Foresees FY2024 Net Loss Despite Earnings Boost

Gold Peak Technology Group Limited (HK:0040) has released an update.

Gold Peak Technology Group Limited has reported a significant improvement in its FY2024 operating earnings with expected profits before finance costs and share of results of associates to be around HK$325 million to HK$335 million, a substantial increase from HK$167.6 million in FY2023. Despite this, the Group anticipates a net loss for FY2024 due to a sizeable impairment loss from XIC Innovation, with expected losses for equity holders ranging between HK$362 million and HK$412 million. However, this loss is considered non-cash and is not projected to negatively affect the Group’s operational cash flow or future earnings.

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