Summary by Moomoo AI
Brightstar Tech Group Co., Ltd. ("Brightstar Tech") announced on August 15, 2024 that it expects to record a profit of approximately HKD 9.1 million for the six months ending June 30, 2024, compared to a loss of HKD 6.0 million for the same period in 2023, achieving a turnaround. This change is mainly due to the increase in the number of popular music concerts and other live events, as well as the improvement in gross margin brought about by the increase in average revenue. However, the increase in administrative expenses and provision for income tax offset some of the gains. The board of directors pointed out that these figures are preliminary estimates, have not been audited, and have not been reviewed by auditors or audit committees. The company will announce its audited interim results on or before August 23, 2024. Company shareholders and potential investors should exercise caution.