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Express News | Integrated Waste Solutions - Increase in Net Loss Due to Provision for Impairment of Carrying Value of Interests in Associate
IWS (00923.HK) expects the annual Shareholder attributable loss to increase by approximately 95% to 104%.
On April 1, Gelonghui announced that IWS (00923.HK) expects the loss attributable to Shareholders for the year ending March 31, 2025, to increase by approximately 95% to 104%, while for the year ending March 31, 2024, the loss attributed to Shareholders is about 64.7 million Hong Kong dollars. This increase in net loss is mainly due to an impairment provision for the carrying amount of our equity in a joint venture for a hazardous waste treatment project in mainland China. The hazardous waste treatment Business in mainland China is facing an unfavorable market environment, along with intense price competition for treatment fees due to oversupply of capacity, which has severely impacted.
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