ASSET CHAIN (00616) issued a profit alert, expecting the net comprehensive loss for the year to significantly narrow to not more than HK$80 million.
Wealth Chain (00616) announced that compared with the comprehensive net loss of approximately HK$365 million for the year ended March 31, 2025, the Group's comprehensive net loss for the current year is expected to significantly decrease to not more than HK$80 million. The expected decrease in comprehensive net loss is mainly due to (including) the reversal of provision for diminution in value of development properties held for sale; an increase in net gain on fair value changes of financial assets recognized in profit or loss; a decrease in loss on sale of investment properties; a decrease in loss on modification of terms of convertible securities; and a reduction in financing costs, partially offset by an increase in provision for diminution in value of development properties held for sale.
Asset Chain (00616) announced that compared with the comprehensive net loss of approximately HK$365 million for the year ended March 31, 2025, the Group's comprehensive net loss for the current year will significantly decrease to not more than HK$80 million. The expected reduction in comprehensive net loss is mainly due to the reversal of provision for diminution in value of development properties held for sale; increase in net fair value gains on financial assets measured at fair value through profit or loss; decrease in loss on disposal of investment properties; decrease in loss on modification of terms of convertible notes; and decrease in financing costs, partially offset by an increase in provision for diminution in value of properties held for sale.
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