United Strength Power Holdings (HKG:2337) expects a net profit in the range of 65.0 million to 72.0 million yuan for the year ended Dec. 31, 2024, according to its Friday bourse filing.
The expectations are based on a preliminary review of the group's unaudited consolidated management accounts and are more than double the net profit of approximately 43.3 million yuan in 2023.
The increase in net profit is primarily attributed to higher gross profit driven by increased revenue during the reporting year, and the absence of impairment losses on an associate, which amounted to approximately 16.0 million yuan in 2023.
The company is currently finalizing its results for the reporting year, and the information provided is based on a preliminary assessment by the Board.
It has not yet been reviewed by the audit committee and may be subject to adjustments.
