The latest update is out from SIM Technology Group ( (HK:2000) ).
SIM Technology Group Limited has issued a profit warning for the fiscal year 2024, anticipating a significant loss ranging from HK$75.0 million to HK$115.0 million, compared to a profit of HK$344.3 million in 2023. The expected loss is attributed to deteriorating economic conditions, significant losses in investment property values, foreign exchange losses due to RMB depreciation, and the absence of a one-off gain from land resumption that benefited the previous year’s profits.
More about SIM Technology Group
SIM Technology Group Limited is a company incorporated in Bermuda, operating in the technology sector. The company, along with its subsidiaries, is involved in various technological services and products, although specific details about its primary products or market focus are not provided in the announcement.
Average Trading Volume: 4,000
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $117.9M
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