Howkingtech International (HKG:2440) forecasts it will swing to a net loss of between 55 million yuan and 70 million yuan in 2024, from an adjusted profit of 36 million yuan in 2023, according to a Friday filing with the Hong Kong Stock Exchange.
Revenue at the information technology company is seen to plunge 75% to 85% from the 440.6 million yuan logged in the year-ago period, the filing said.
The foreseen decline in revenue is attributable to lower revenue from data transmission and processing services due to project delays, and lower equipment sales due to a decline in customer demand, the filing said.
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