Summary by Moomoo AI
Nan Nan Res Industries Limited ('Nan Nan Res') has issued a positive profit warning, forecasting a significant increase in profits for the six months ended September 30, 2024. Based on a preliminary review of unaudited comprehensive management accounts, the company expects profits to increase from approximately HK$17.4 million in the same period of 2023 to not less than HK$30 million. This gain is mainly attributed to the increase in coal sales in the coal business, improvement in exchange gains, reduction in losses from fair value changes in zero-coupon convertible bonds, and changes in income tax expenses. The Chairman and CEO of the company, Kwun Man Fai, issued this announcement on November 18, 2024, reminding shareholders and potential investors to act prudently when trading shares.
