Brief: Pine Technology Holdings Posts HY Loss Attributable $12.2 MLN Versus

Pine Technology Holdings

27/02/2020 12:44

Feb 27 (Reuters) - Pine Technology Holdings Ltd  1079.HK :
    * HY LOSS ATTRIBUTABLE $12.2 MILLION VERSUS LOSS OF $13.7
MILLION
    * HY REVENUE $77.4 MILLION VERSUS $62.8 MILLION
    * EXPECTED THAT DONGGUAN FACTORY WILL EXPERIENCE DELAY IN
RESUMING
ORIGINAL PRODUCTION SCHEDULES DUE TO COVID-19 OUTBREAK
    * THERE WILL BE LATE DELIVERY OF PRODUCTS DURING SECOND HALF
OF
FISCAL YEAR
    * SHORTAGE OF EMPLOYEES AND PROLONGED APPROVAL PROCEDURES AS
A
RESULT OF ADMINISTRATIVE MEASURES IS EXPECTED TO BE TEMPORARY
    * ANTICIPATED THAT COMPUTER SOFTWARE AND HARDWARE, SYSTEM
DEVELOPMENT BUSINESS WILL FACE BIG CHALLENGES IN H2 OF FISCAL
YEAR
    * POTENTIAL IMPACT ON BUSINESSES OF GROUP MAY NEGATIVELY
AFFECT
FINANCIAL RESULTS OF GROUP FOR H2
    * PREVENTION MEASURES AFFECTED APPROVAL PROCEDURES FOR
SOFTWARE
AND HARDWARE AND SYSTEM DEVELOPMENT BUSINESS
    * AFFECT TO  APPROVAL PROCEDURES WILL LIKELY CAUSE DELAY IN
MEETING INITIALLY PLANNED SCHEDULES DURING SECOND HALF
    * COVID-19 EPIDEMIC MAY NEGATIVELY AFFECT FINANCIAL RESULTS
OF
GROUP FOR SECOND HALF OF FISCAL YEAR

Source text for Eikon:  ID:nHKS10MWVK 
Further company coverage:  1079.HK 

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