Summary by Moomoo AI
Nan Nan Res Industries Limited ("Nan Nan Resources") issued a positive profit warning on June 19th, 2024, indicating that its financial performance for the fiscal year ended March 31st, 2024, will turn from loss to profit compared to the previous fiscal year. The company expects to record a post-tax profit of not less than HKD36,000,000 based on a preliminary review of the unaudited comprehensive management accounts, compared to a loss of HKD59,040,000 in fiscal year 2023. This change is mainly due to the increase in fair value income of its zero-coupon convertible bonds, which will mature in 2026, with a fair value income of approximately HKD62,790,000 in the 2024 fiscal year. However, the company's stock price has declined in the 2024 fiscal year, leading to changes in fair...Show More