Pan Asia Data Holdings (HKG:1561) expects a net loss of at least HK$279 million for 2024, widening from a HK$59.9 million loss in 2023, the company said in a Wednesday filing on the Hong Kong Exchange.
The big data services firm said the increased loss reflects a 70.1% drop in big data services revenue, driven by weak demand and heightened competition amid domestic market adjustments.
Pan Asia also booked a HK$359.3 million impairment loss on non-financial assets related to the big data business.
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