Century Entertainment International (00959) Issues Profit Alert, Expects Interim Net Profit of at Least HK$25 Million, Turning Around from Loss

Stock News
11/13

Century Entertainment International (00959) announced that the Group expects to record a net profit attributable to shareholders of no less than HK$25 million for the six months ended September 30, 2025, compared to a net loss of approximately HK$11.4 million in the same period last year.

The improvement was driven by revenue contributions from two new subsidiaries. One operates an online technology-based gaming business in Manila, Philippines, while the other is engaged in camellia oil operations in Guangdong Province, China. Both subsidiaries commenced operations during the interim period and have contributed to the Group's gross profit. The Board anticipates these business units will develop into significant and sustainable sources of profit and growth.

Additionally, the Group recognized a one-time other income of approximately HK$30 million due to the reversal of expected credit losses. This resulted from an agreement signed on July 2, 2025, with former shareholder Mr. Wu Wenxin, which allowed the offsetting of receivables and payables between the parties.

Following the termination of a VIP gaming agreement in Cambodia in April 2025, the Group derecognized related right-of-use assets and lease liabilities of HK$4.8 million and HK$6.2 million, respectively. This generated a net lease modification gain of HK$1.1 million, recognized as other income during the interim period.

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