PAX Global Technology Anticipates Significant Profit Decline

PAX Global Technology (HK:0327) has released an update.

PAX Global Technology has issued a profit warning, anticipating a 30% to 40% drop in net profit for the fiscal year ending December 2024 compared to the previous year. The decline is attributed to reduced revenue in key regions due to global economic uncertainty, along with a one-off share-based payment expense and the lack of a prior research and development tax incentive. Investors are advised to exercise caution as these factors continue to impact the company’s financial performance.

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