Summary by Moomoo AI
On August 16, 2024, HK Tech Venture Limited issued a profit warning, predicting unaudited losses of approximately HKD 25 million to 30 million for the six months ended June 30, 2024, while adjusted EBITDA for the same period is expected to range between HKD 35 million and 40 million. In addition, the company's total order commodity trading volume increased by 4.9% compared to the same period last year, reaching HKD 4.2 billion 35.5 million, and the number of online shopping customers also increased. The losses were mainly due to the start-up losses of new exploration projects, non-cash item losses, increased depreciation and amortization, foreign exchange depreciation and reduced deferred tax offsets. The company emphasizes that these losses are necessary investments in long-term growth strategies and innovative product and service development. The Board of Directors reminds shareholders and potential investors not to rely too much on preliminary data and to proceed with caution. The final mid-term performance will be announced on August 23, 2024.
