Summary by Moomoo AI
MOG DIGITECH has issued a profit warning, expecting to record an unaudited after-tax consolidated net loss of no less than RMB 0.113 billion for the year 2024, significantly widening from a net loss of about RMB 74 million in the same period of 2023. The increase in losses is mainly due to two factors: the temporary decline in the gross profit from the financing services of Positive Oasis Limited and its subsidiaries, and an impairment loss on intangible assets linked to Crediting financing contracts amounting to about RMB 55 million.The expansion of the above losses is mainly due to the decision of the financiers not to renew the Crediting financing, which originally allowed the PO group to provide financing loans to selected customers and which expired on December 31, 2024. The company indicated that it is still preparing the unaudited consolidated annual results for 2024, and the final data may be adjusted, with the annual result announcement expected to be published on March 31, 2025.
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