Summary by Futu AI
BAO GUANG INDUSTRIES (INTERNATIONAL) LIMITED (THE “COMPANY”) ANNOUNCES THAT FOR THE YEAR ENDED MARCH 31, 2024, IT IS EXPECTED TO RECORD A NET PROFIT OF NOT LESS THAN HK$470 MILLION FOR THE YEAR ENDED MARCH 31, 2024. The expected profit mainly came from the sale of Swiss subsidiaries and watch stocks, resulting in a total revenue of HK$559.3 million. In comparison, the combined net profit for 2023 was HK$50.8 million, including proceeds from the sale of Hong Kong properties of HK$78.7 million and investment property revaluation proceeds of HK$14.8 million. Excluding these one-off gains, the Group recorded a net loss of HK$42.7 million in 2023. It is estimated that the combined net loss in 2024 will exceed the adjusted loss in 2023 if sales gains are not...Show More