Hybrid Kinetic Group Limited Reports No Revenue and HK$13.8M Loss for 2024

Reuters
2025/05/30
Hybrid Kinetic Group Limited Reports No Revenue and HK$13.8M Loss for 2024

Hybrid Kinetic Group Limited announced its audited consolidated financial results for the year ending December 31, 2024. The company reported no sales or service income from its battery management systems and spare parts for both 2023 and 2024, indicating no change in revenue from these segments. The Group's loss for the year was HK$13.813 million, compared to a loss of HK$21.970 million in 2023, showing a reduction in losses by HK$8.157 million. The loss from operations was HK$13.798 million, down from HK$21.896 million in the previous year. Finance costs decreased to HK$15,000 in 2024 from HK$74,000 in 2023. The company's financial performance includes a segment loss of HK$4.875 million across high-tech electric motor vehicles, battery management systems and spare parts, and advanced batteries materials, which marks an increase from the segment loss of HK$4.426 million recorded in the previous year. The statement did not include any outlook or guidance for future periods. Furthermore, there were no additions to segment non-current assets or depreciation reported for the year. The continued suspension of trading in the company's shares remains in effect.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Hybrid Kinetic Group Limited published the original content used to generate this news brief on May 30, 2025, and is solely responsible for the information contained therein.

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