Elate Holdings Expects Significant Increase in Net Profit for 2024

MT Newswires Live

03/21

Elate Holdings (HKG:0076) expects to log a net profit attributable to shareholders of approximately $41.3 million in the year ended Dec. 31, 2024, a significant increase compared to $1.8 million in the same period in 2023, according to Friday bourse filing.

The substantial rise in net profit is primarily driven by a one-off fair value gain on financial assets at fair value through profit or loss, amounting to approximately $36.2 million, and an increase in gross profit of approximately $6.3 million compared to 2023.

Excluding the one-off gain, the growth in net profit is attributed to stronger sales and re-aligned pricing strategies across key customers in the electronic products manufacturing and sales business.

The company is finalizing its results for the year ended Dec. 31, 2024, and the information provided is based on a preliminary assessment by the board.

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