Summary by Moomoo AI
SINOHOPE TECH has released a positive profit forecast, expecting to record a net profit of approximately 60 million Hong Kong dollars for the year ending September 30, 2024, reversing a net loss of about 0.2887 billion Hong Kong dollars in the same period last year. The increase in net profit mainly comes from three aspects: revenue of approximately 96.3 million Hong Kong dollars from the sale of FTX claims and the reversal of impairment provisions; a reduction in administrative expenses of about 44% compared to last year; and an increase in income from performance fees and management fees, driving a gross profit growth of about 34 million Hong Kong dollars.The company stated that the rise in virtual asset prices and the continuous increase in the total...Show More