Sun.King Technology (00580.HK): Issues Profit Warning, Expects H1 Loss Near RMB 30M
newtimespace.com reports, Sun.King Technology Group Limited (Stock Code: 0580) announced that based on a preliminary assessment of the group's unaudited consolidated management accounts for the six months ended 30 June 2026, the group expects to record revenue of approximately RMB 1.268 billion, representing an increase of approximately 42.7% compared to the corresponding period in 2025, mainly due to concentrated deliveries of products for the Gansu-Zhejiang flexible DC transmission project, including DC support capacitors and DC support capacitor online monitoring systems. However, a loss attributable to owners of the parent of nearly RMB 30 million is expected, compared to a profit attributable to owners of the parent of approximately RMB 94 million for the six months ended 30 June 2025. The expected loss is mainly attributable to: (a) a decline in the Swiss franc exchange rate resulting in a net fair value loss on foreign exchange forward contracts of approximately RMB 59 million, compared to a net fair value gain of approximately RMB 60 million in the prior year period; (b) a decrease in exchange gains of approximately RMB 25 million due to the decline in the Swiss franc; (c) continued increase in R&D investment in new products, with R&D expenses increasing by approximately RMB 22 million; and (d) expiration of government subsidies for the self-developed power semiconductor project, resulting in a decrease in government subsidies of approximately RMB 16 million. The information in this announcement is based solely on the board's preliminary assessment and has not been audited by the auditor or the audit committee.
NewTimeSpace Disclaimer: All content herein is the original work of NewTimeSpace. Any reproduction, reprinting, or use of this content in any other manner must clearly indicate the source as "NewTimeSpace". NewTimeSpace and its authorized third-party information providers strive to ensure the accuracy and reliability of the data, but do not guarantee the absolute correctness thereof. This content is for reference only and does not constitute any investment advice. All transaction risks shall be borne by the user.
