Nan Nan Resources Predicts Profit Turnaround

Nan Nan Resources Enterprise Limited (HK:1229) has released an update.

Nan Nan Resources Enterprise Limited anticipates a swing from a loss of HK$59.04 million in FY2023 to a profit of at least HK$36.00 million in FY2024, largely due to a HK$62.79 million gain on fair value of a convertible bond. However, the company also projects a significant drop in revenue and gross profit, with a 51.62% and 67.77% decrease respectively compared to the previous year. Shareholders and potential investors are cautioned as these are preliminary unaudited figures and are advised to exercise caution when dealing in the company’s shares.

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