Xiongan Technology (01647) Fa Yingxi expects a profit of about 500,000 to 1 million Singapore dollars in the medium term

According to the Zhitong Finance App, Xiongan Technology (01647) announced that the Group expects to make a profit of about SGD 500,000 to SGD 1 million during the six-month period ending September 30, 2026, while the six-month period ending September 30, 2025 will have a loss of about SGD 1.6 million over the period.

The Board believes that the reversal of loss to profit was mainly due to the following factors: (1) administrative expenses were reduced from about SGD 8.4 million in the previous period to about SGD 7.7 million during the current period, due to a reduction in the number of employees and employee-related expenses; (2) the conversion of other income and losses from losses of about SGD 900,000 in the previous period to earnings of about SGD 300,000 for the current period. This was due to reduced exchange losses due to exchange rate fluctuations and confirmed proceeds from the sale of subsidiaries during the current period.