Powell Max Ltd. Reports 26% Drop in 2024 Sales; Swings to HK$18 Million Net Loss from Previous Year Profit

Reuters

04-29

Powell Max Ltd. Reports 26% Drop in 2024 Sales; Swings to HK$18 Million Net Loss from Previous Year Profit

Powell Max Ltd. released its financial results for the fiscal year ending December 31, 2024. The company reported sales of HK$36.5 million (approximately US$4.7 million), a decrease from HK$49.1 million in the previous year. The cost of sales also decreased to HK$22.1 million from HK$25.2 million in 2023. The company experienced a net loss of HK$18.1 million (US$2.3 million), a significant shift from the profit of HK$7.1 million in 2023. Finance costs rose to HK$2.0 million from HK$550,714 in the previous year. Powell Max Ltd. did not report any income tax expenses for the year. The company noted that it is not aware of any trends, uncertainties, or events that are likely to materially affect its financial condition in the near future.

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. Powell Max Ltd. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001213900-25-036127), on April 28, 2025, and is solely responsible for the information contained therein.

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Finance costs rose to HK$2.0 million from HK$550,714 in the previous year. Powell Max Ltd. did not report any income tax expenses for the year. The company noted that it is not aware of any trends, uncertainties, or events that are likely to materially affect its financial condition in the near future.\n      </p>\n</div><div xmlns:xsd=\"http://www.w3.org/2001/XMLSchema\" xmlns:xsi=\"http://www.w3.org/2001/XMLSchema-instance\">\n<em>Disclaimer: <span>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. Powell Max Ltd. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. 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Reports 26% Drop in 2024 Sales; Swings to HK$18 Million Net Loss from Previous Year Profit\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1032215980\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://community-static.tradeup.com/news/4567337cbdf294b657b1fa87c5488b48);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time smaller\">2025-04-29 04:47</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<html xmlns=\"http://www.w3.org/1999/xhtml\" xmlns:newsg2=\"http://iptc.org/std/nar/2006-10-01/\" xmlns:xhtml=\"http://www.w3.org/1999/xhtml\"><head><title>\n      Powell Max Ltd. 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ID: 0001213900-25-036127), on April 28, 2025, and is solely responsible for the information contained therein.</span></em>\n</div></body></html>\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"PMAX","symbol_name":"Powell Max Limited","start_time":0,"source_url":"https://api.refinitiv.com/data/news/v1/stories/urn:newsml:reuters.com:20250428:nNDL80RvZv:1","article_id":"2531264721","we_media_id":"1032215980","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2531264721","pubTimestamp":1745873259,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Reuters","introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"id":"1032215980","head_image":"https://community-static.tradeup.com/news/4567337cbdf294b657b1fa87c5488b48"},"summary":"Powell Max Ltd. released its financial results for the fiscal year ending December 31, 2024. 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Reports 26% Drop in 2024 Sales; Swings to HK$18 Million Net Loss from Previous Year Profit\n    \n\n        Powell Max Ltd. released its financial results for the fiscal year ending December 31, 2024. The company reported sales of HK$36.5 million (approximately US$4.7 million), a decrease from HK$49.1 million in the previous year. The cost of sales also decreased to HK$22.1 million from HK$25.2 million in 2023. The company experienced a net loss of HK$18.1 million (US$2.3 million), a significant shift from the profit of HK$7.1 million in 2023. Finance costs rose to HK$2.0 million from HK$550,714 in the previous year. Powell Max Ltd. did not report any income tax expenses for the year. The company noted that it is not aware of any trends, uncertainties, or events that are likely to materially affect its financial condition in the near future.\n      \n\nDisclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. 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