Nan Nan Res Industrial Co., Ltd. ("Nan Nan Res") issued a positive profit alert on June 19, 2024, forecasting that its financial performance for the year ending March 31, 2024 will turn from loss to profit compared to the previous fiscal year. Based on the preliminary unaudited comprehensive management accounts, the company expects to record an after-tax surplus of not less than HKD 36,000,000, compared to a loss of HKD 59,040,000 in the 2023 fiscal year. This change is mainly due to the increase in fair value gain on issuance of convertible bonds with zero coupon interest, which will mature in 2026 and had fair value gain of approximately HKD 62,790,000 in the 2024 fiscal year. However, the company's stock price has fallen in the 2024 fiscal year, resulting...Show More

Nan Nan Res Industrial Co., Ltd. ("Nan Nan Res") issued a positive profit alert on June 19, 2024, forecasting that its financial performance for the year ending March 31, 2024 will turn from loss to profit compared to the previous fiscal year. Based on the preliminary unaudited comprehensive management accounts, the company expects to record an after-tax surplus of not less than HKD 36,000,000, compared to a loss of HKD 59,040,000 in the 2023 fiscal year. This change is mainly due to the increase in fair value gain on issuance of convertible bonds with zero coupon interest, which will mature in 2026 and had fair value gain of approximately HKD 62,790,000 in the 2024 fiscal year. However, the company's stock price has fallen in the 2024 fiscal year, resulting in a fair value change. In addition, the company expects a decrease in the gross profit of the 2024 fiscal year by approximately 67.77% compared to the previous year. The company emphasizes that these data have not been audited or reviewed by auditors or audit committees and may be subject to adjustment. The final annual performance will be announced before the end of June 2024. Shareholders and potential investors of the company should act with caution.