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Pangaea Connectivity Announced Positive Profit Alert. Expected 1H Net Profit to Be Not Less Than RMB14 Million, With Increase in Sales Driven by AI Products
Pangaea Connect (01473.HK) reported a significant increase in revenue in《盈喜》, expecting to turn a profit of not less than 14 million yuan in the first half of the year.
Pangaea Connect (01473.HK) announced a profit, expecting a net profit of not less than 14 million yuan in the six months ending September, compared to a net loss of 14 million yuan in the same period last year. This significant increase is mainly due to a more than 70% increase in revenue compared to the same period last year, reaching 0.6 billion yuan.
Pangaea Connectivity Technology Expects Return to Profit in Fiscal H1
Pangaea Connect (01473.HK) profit alert: expected to turn losses into profits in the medium term.
Pangaea Connect (01473.HK) announced on October 15th that the group expects to achieve a net profit of not less than 140 million Hong Kong dollars for the six months ending September 30, 2024, compared to a net loss of about 140 million Hong Kong dollars in the same period last year. The expected unaudited comprehensive post-tax net profit turnaround to profit from loss is mainly due to a significant increase of over 70% in revenue to approximately 600 million Hong Kong dollars for the six months ending September 30, 2023. The increase in revenue is consistent with the increase in sales and gross margin due to the increase in sales of AI products, with the increase attributed to strong market demand.
PANGAEA CONNECT: POSITIVE PROFIT ALERT
On September 3, the buyback pool | Tencent, HSBC Holdings and others have announced buybacks, with Tencent Holdings spending 1.003 billion Hong Kong dollars.
According to the disclosure documents of hkex on September 4, Tencent Holdings (00700.HK), HSBC Holdings (00005.HK), etc. repurchased shares. ① Tencent Holdings (00700.HK) repurchased 2.65 million ordinary shares on September 3, involving an amount of 1.003 billion Hong Kong dollars, with a repurchase price per share ranging from 381.2 Hong Kong dollars to 374.8 Hong Kong dollars. Since the authorization resolution for repurchase, the cumulative repurchased securities amount to 0.136 billion shares, accounting for 1.445% of the number of issued shares when the ordinary resolution was passed. ② HSBC Holdings (00005.HK) on September
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