Express News | Coolpoint Innonism - Expected Result Due to Lower Profit Margin for Certain Projects Undertaken During Year, Others

Reuters00:02 ET

Express News | Coolpoint Innonism Sees Net Loss & Total Comprehensive Expense Between HK$14.0 Mln and HK$15.0 Mln Attributable for Year

Reuters00:02 ET

Coolpoint Inno (08040.HK) warns of a loss for the year, with an expected net loss and comprehensive expenses of approximately 14-15 million Hong Kong dollars for equity holders.

Coolpoint Inno (08040.HK) announced on June 19th that, based on the preliminary review of the unaudited comprehensive management accounts and the evaluation of current available information up to March 31, 2024, the company is expected to record a net loss and total comprehensive expenses of approximately HKD 14-15 million for the year, which will be borne by the company's owners. This is in contrast to a profit and total comprehensive income of approximately HKD 1.2 million recorded for the year ended March 31, 2023. The main reasons for the deterioration in the company's performance are (i) low profit margin of several projects undertaken during the year; and (ii) impairment loss provision for other receivables and contract assets during the year.

Gelonghui FinanceJun 19 07:08 ET

Express News | Coolpoint Innonism Holding - Expected Result Due to Lower Profit Margin for Certain Projects Undertaken During Year, Others

ReutersJun 19 07:02 ET

Express News | Coolpoint Innonism Sees Net Loss and Total Comprehensive Expense Between HK$14.0 Mln and HK$15.0 Mln for Year

ReutersJun 19 07:02 ET

COOLPOINT INNO: PROFIT WARNING

Hong Kong Stock ExchangeJun 19 07:01 ET · Announcements