On September 20, Gelunhui announced that solartech int'l (01166.HK) preliminarily reviewed the unaudited comprehensive management accounts of the group for the year ended June 30, 2024, and expects a net loss attributable to company owners of 87 million Hong Kong dollars to 93 million Hong Kong dollars for the year ended June 30, 2024, compared to a net loss attributable to company owners of approximately 0.177 billion Hong Kong dollars for the year ended June 30, 2023.
The expected decrease in net loss attributable to company owners is mainly due to the following factors: (i) increase in revenue and gross profit; (ii) reversal of impairment loss on mining rights recognized in the relevant period, while impairment loss on mining rights was recognized in the corresponding period; and (iii) recognition of deferred tax assets in the relevant period, while deferred tax expenses were recognized in the corresponding period.
