Summary by Futu AI
Feidao Travel Technology Co., Ltd. (formerly known as Wwpkg Holdings Limited) issued a profit warning, expecting a net loss of approximately 79% increase for the fiscal year ending March 31, 2024 compared to the previous year. The increase was mainly due to the performance loss of joint ventures and one-time losses caused by the sale of subsidiary companies. The company pointed out that the loss of joint ventures increased by about HKD 7.2 million, mainly due to impairment losses on one investment, while the sale of subsidiary companies resulted in a one-time loss of about HKD 2.4 million. However, the company's revenue has increased, which offsets the increase in net losses. This information is based on the preliminary evaluation of unaudited consolidated financial statements by management. The company will release detailed financial performance data by the end of June 2024. Shareholders and potential investors should act with caution. The announcement was issued by Executive Director Xu Xiaolan on June 24, 2024.
