Pine King Technology (01079) issued a profit warning and expects to record a consolidated loss of not less than $95 million for the year ended June 30, compared with a net loss of about $66 million for the same period last year.
The expected increase in net loss for the financial year 2023 is mainly due to the decrease in turnover and gross profit of the Group; and the recognition of impairment losses on goodwill and intangible assets for the financial year 2023.