Pinchuang Holdings (08066) is forecasting a year-on-year reduction in net profit attributable to shareholders to approximately HK$450,000 in 2024

According to the Zhitong Finance App, Pinchuang Holdings (08066) announced that the Group expects to obtain net profit attributable to company owners of about HK$450,000 during the reporting period (year ending December 31, 2024), compared to the same period in 2023, net profit attributable to company owners of about HK$4.34 million.

The Board believes that the expected profit decline is mainly affected by the following factors: (1) The SIM card business segment's revenue fell by about 27.4% year on year, leading to a decrease in segment profit of about HK$6.44 million. The reason for the sharp decline in revenue in 2023 was due to the rebound in chip supply after COVID 19, which enabled the Shenzhen factory to clear its backlog of smart card orders and return to a normal level in 2024; (2) during the reporting period, an exchange loss of about HK$1.55 million was confirmed due to the depreciation of the RMB against the Hong Kong dollar, while in 2023 it achieved an exchange gain of about HK$1.41 million, a difference of about HK$2.96 million; in terms of investment in TV programs, the Group obtained a fair value return of about HK$2.99 million during the reporting period The Hong Kong dollar increased profit by about HK$4.21 million compared to the fair value loss of about HK$1.32 million in the same period last year; (4) the profit of the sales smart card application system segment increased by about HK$1.68 million over the same period last year, which was offset by a year-on-year increase of about HK$1.68 million.