Summary by Futu AI
Brightstar Tech Group Limited ("Brightstar Tech") released a profit forecast on August 15, 2024, expecting to record a profit of approximately 9.1 million Hong Kong dollars for the six months ended June 30, 2024, compared to a loss of 6.0 million Hong Kong dollars in the same period in 2023, achieving a turnaround. This change was mainly due to an increase in the number of pop music concerts and other live events, as well as an improvement in gross margin brought by an increase in average revenue. However, the increase in administrative expenses and provision for income tax offset some of these gains. The board of directors pointed out that these figures are preliminary estimates that have not been audited or reviewed by auditors or audit committees. The company will announce its audited interim results on or before August 23, 2024. Company shareholders and potential investors should exercise caution.