Summary by Moomoo AI
Balk 1798 GP (Tianshiyao 11 Limited) issued a profit warning, forecasting a loss of no less than HKD 12.0 million for the unaudited six-month comprehensive management accounts ending June 30, 2024. This represents an increase of at least HKD 11.1 million, or 119.6%, compared to the loss of HKD 0.9 million in the same period last year. The company pointed out that the main reason for the increase in losses was the decline in business performance, with a significant decrease in gross profit of about HKD 24.4 million, due to the economic downturn and the decrease in consumer desire, especially in luxury goods such as yacht business, which generated no revenue. The company emphasized that these figures are preliminary estimates, and the final figures will be decided by the board of directors and its audit committee, and will be announced on August 30, 2024 when the interim performance is released. The board of directors reminded shareholders and potential investors to exercise caution when trading the company's securities.
