Asia Tele-Net (00679) announced that the net income for the 6-month period ended on June 30, 2023, decreased by key factors including (i) expected crediting loss reversal reduction and (ii) reduced gross profit, among other reasons.
According to the announcement from Asia Tele-Net (00679), the net income after tax for the 6-month period ended on June 30, 2023, was approximately 0.11 billion Hong Kong dollars. The group expects the net income after tax for the 6-month period ended on June 30, 2024, to be approximately 27 million Hong Kong dollars to 33 million Hong Kong dollars. The key factors leading to the decrease in net income after tax include (i) the expected reduction in the loss reversal in the crediting loss model and (ii) a decrease in gross profit, among other reasons.