Zhitong Financial APP News, Automated Systems (00771) issued an announcement that it is expected that the Group will achieve an adjusted EBITDA of about HK $65 million in the six months ended June 30, 2023, similar to that of about HK $66.7 million in the same period in 2022.
At the same time, the Group expects to make a net profit of about HK $90 million for the six months ended June 30, 2023, an increase of about seven times compared with a net profit of about HK $11.3 million for the same period last year.
The main factors for this increase include the vesting or exercise of share options under the share incentive scheme adopted by associate Grid Dynamics Holdings, Inc. (GDH) in 2020, which will be recorded as approximately HK $60 million for the six months ended 30 June 2023 (approximately HK $4.1 million for the same period last year as a net loss deemed to be the disposal of part of the interests of an associate), and an improvement in the operating results of GDH.