Smit (02239) announced that the net profit for the six months ended June 30, 2023 is expected to be about 0.3 million...
According to the announcement made by Smit (02239), the group is expected to incur a net loss of no more than 16 million US dollars for the six months ended June 30, 2024, compared to a net profit of about 0.3 million US dollars for the six months ended June 30, 2023.
The main reason for the loss for the six months ending June 30, 2024 is due to the continuous investment of the invested companies in research and development activities, which led to an increase in the group's share of the invested companies' losses, as well as the lack of diluted earnings from the invested companies regarded as sold investments.