D&G Technology expects profit turnaround in fiscal year 2024

D&G Technology (HKEX:1301) issued a profit alert today, announcing that it expects to achieve a net profit attributable to owners of the company ranging from RMB1 million to RMB5 million for the fiscal year 2024. This marks a significant turnaround from the audited net loss of approximately RMB24 million recorded in fiscal year 2023. The expected improvement is primarily attributed to an increase in revenue and gross profit margin, coupled with a slight decrease in selling and distribution costs. However, this positive impact is partially offset by a reduction in other income, including government grants, and an increase in administrative expenses. The company is still finalizing its consolidated annual results for FY2024, and the figures are based on preliminary assessments and unaudited management accounts, subject to potential adjustments. D&G Technology's annual results announcement is expected by the end of March 2025.