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Continental Aerospace Technologies Holding's (HKG:232) Shareholders May Want To Dig Deeper Than Statutory Profit
CON AERO TECH: INTERIM REPORT 2024
CON AERO TECH: ANNOUNCEMENT OF INTERIM RESULTSFOR THE SIX MONTHS ENDED 30 JUNE 2024
Aviation technology holdings in mainland China (00232) fell more than 18% at one point, and the expected pre-tax profit for the first half of the year is expected to decrease to no less than 6 million Hong Kong dollars.
Con Aero Tech (00232) fell more than 18% at one point, as of the time of writing, it has fallen 11.57% to HKD 0.107, with a turnover of HKD 2.2376 million.
Continental Aerospace Technologies Holding Expects Lower Profit in H1
Con Aero Tech (00232.HK) issued a profit warning: It is expected that the mid-term post-tax profit will not be less than 6 million Hong Kong dollars.
GuoLongHui August 21 | Con Aero Tech (00232.HK) announced that the group is expected to record a tax-excluded surplus of no less than 6 million Hong Kong dollars for the six months ending June 30, 2024 (2023: a tax-excluded surplus of about 80 million Hong Kong dollars). This is mainly due to the optimization and coordination challenges faced by the US subsidiary in the process of implementing the new NetSuite enterprise resource planning system, which has increased the difficulty of management and security control in areas such as business operation, management, and security management. As a result, it has paid more time and cost than before, while also responding to the tension faced by most companies in the industry.
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