Pine Tech (01079) soared more than 90%, as of the time of writing, up 90.63%, at 0.061 Hong Kong dollars, with a turnover of HKD 0.6412 million.
According to the Zhitong Finance and Economics app, Pine Tech (01079) soared more than 90%, as of the time of writing, up 90.63%, at 0.061 Hong Kong dollars, with a turnover of HKD 0.6412 million.
In terms of news, Pine Tech plans to hold a board of directors meeting on September 26 to approve the annual performance. The company recently issued a profit alert, expecting a net profit after tax of not less than approximately HKD 40 million for the year ended June 30, 2024, unaudited. This is a significant increase compared to a net loss of approximately HKD 0.1076 billion for the same period last year. The expected turnaround to profitability is mainly due to a significant increase in the group's income in the 2024 fiscal year, a substantial reduction in general and administrative expenses in the 2024 fiscal year, no impairment loss on goodwill and intangible assets in the 2024 fiscal year, and income from the disposal of subsidiaries in the 2024 fiscal year.
