Tycoon Group Holdings (HKG:3390) expects to post a first-half loss of no less than HK$7.0 million, compared with a HK$24.2 million profit before tax a year earlier, according to an Aug. 8 Hong Kong bourse filing.
The loss was mainly attributed to challenges in its PRC e-commerce segment following the buy-back of the majority stake in Combo Win Asia, which became a wholly owned subsidiary on March 1.
It has been able to record an increase in revenue and maintain a steady gross profit margin for the first half, the filing said.
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