NEXION TECH (08420) announced that it has adopted Hong Kong dollars as the presentation currency for its comprehensive financial statements ("change in the presentation currency").
The group's comprehensive financial statements have always been presented in US dollars. Considering that the company's shares are listed on the Stock Exchange of Hong Kong and the stock is traded in Hong Kong dollars, the board of directors believes that changing the presentation currency can make shareholders and potential investors more accurately understand the financial performance of the group.
The group's first set of comprehensive financial statements presented in Hong Kong dollars will be for the six-month interim report ending June 30, 2024. The change in presentation currency will be applied retroactively. The comparative figures in the interim report for 2023 will be restated in Hong Kong dollars. The change in presentation currency and the restatement of comparative figures from US dollars to Hong Kong dollars are not expected to have a significant impact on the group's financial statements.