Trio Ind Elec (01710.HK) announced that as of June 30th, 2024, the company is expected to record a loss of approximately HKD 25,000,000 to HKD 35,000,000 for the six months ended June 30th, 2024, while the same period last year saw the company's equity holders recording profits of approximately HKD 21,700,000.
The expected loss is mainly due to the following reasons: (i) Slower economic growth in Europe and North America, resulting in continued low demand for the group's main products in the European and North American markets; and (ii) The increase in administrative expenses is due to (a) one-time compensation payments for the termination of the previous director's appointment; and (b) increased staff costs for developing new business projects in the new energy fund market.