New Sparkle Roll Expects Significant Loss Amid Market Challenges

New Sparkle Roll International Group Limited (HK:0970) has released an update.

New Sparkle Roll International Group Limited has issued a profit warning, projecting a significant loss of HK$570 million for the six months ending September 2024, a stark increase from the HK$52 million loss in the same period last year. The substantial loss is attributed to a 40% drop in revenue and a 48% decline in gross profit, primarily due to weak market sentiment in its automotive business and hefty impairments in its dealership and film rights assets. Investors are advised to remain cautious as the company finalizes its financial results.

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