China Intelligent Technology (00464)'s net loss for the medium term is expected to be no more than HK$23.5 million

According to the Zhitong Finance App, China Intelligent Technology (00464) announced that the Group is expected to record a net loss of no more than HK$23.5 million in the six months ending September 30, 2024, compared with a net loss of approximately HK$8.3 million for the six months ended September 30, 2023. The Board believes that the expected increase in losses is mainly due to lower earnings and lower gross margin. The decline in gross margin was mainly due to increased material costs and wages.