Innovax Holdings Limited has issued a profit warning for the financial year ending 28 February 2025, based on preliminary unaudited results. The company anticipates recording a loss and total comprehensive expense ranging from approximately HK$32 million to HK$37 million. This marks a significant shift from the previous year's profit and total comprehensive income of approximately HK$1.8 million for the year ended 29 February 2024. The expected transition from profit to loss is primarily attributed to net unrealised and realised losses on financial assets at fair value through profit or loss during the year ended 28 February 2025, contrasting with net unrealised and realised gains reported in the previous year. The finalised financial results are set to be published on 30 May 2025.
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