Modern Innovative Digital Technology Expects to Swing to Loss in H1, Shares Up 3%

MT Newswires Live11-25

Modern Innovative Digital Technology (HKG:2322) expects a net loss of about HK$30 million for the six months ended Sept. 30, compared with a net profit of HK$4 million in the corresponding period of the previous year, according to a Friday filing with the Hong Kong bourse.

The company attributed the expected turnaround to the fair value gain for held-for-trading investments of HK$1 million for the current period compared with the gain of HK$33 million during the corresponding period of the previous year.

The food and electronic products business, formerly Hong Kong ChaoShang Group, plans to publish its interim results on Friday.

The company's shares were up over 3% in the recent trading.

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