SinFire Technology Holdings (01611.HK) expects a net loss for the year not exceeding 10 million Hong Kong dollars.

The Zhongtong Finance APP informed that the New Fire Technology Holdings (01611.HK) announced that the Group is expected to incur a net loss of no more than HK$10 million for the year ending September 30, 2025, while it obtained a net profit of approximately HK$56.3 million for the year ending September 30, 2024 (same period last year). The expected loss is mainly attributed to an estimated bargain purchase gain of approximately HK$60.9 million from a significant acquisition, and a net loss of approximately HK$58.6 million from the financial performance of a combined acquisition. The change from a net profit in the same period last year to a net loss in the current period is also due to: a one-time reversal of impairment provisions on FTX deposits of approximately HK$85.9 million; a one-time reversal of impairment provisions on other receivables due to receipt of payments of approximately HK$10.3 million; and the net impact of fluctuations in the fair value of cryptocurrencies resulting in a decrease in income for the current period compared to the same period last year.