Kingkey Financial International Expects to Narrow Loss in FY2024; Shares Down 11%

MT Newswires Live06-26 10:19

Kingkey Financial International (HKG:1468) expects a net loss of roughly HK$700 million for the fiscal year ended March 31, compared with the net loss of approximately HK$1.16 billion in the prior year, according to a Tuesday filing with the Hong Kong bourse.

The company attributed the expected loss to impairment loss recognized with respect to the goodwill of roughly HK$228.3 million, intangible assets of HK$491.6 million loss, and rights of use assets of loss of HK$2.0 million.

The company plans to release its final results on June 28.

Shares of the company declined over 11% in morning trade Wednesday.

Price (HKD): $0.13, Change: $-0.02, Percent Change: -11.84%

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