SPT ENERGY (01251) issued a profit warning, expecting the company's equity holders' share of the loss to be approximately 250-300 million yuan in 2024, compared to a profit in the previous year.

SPT ENERGY (01251) announced that the group is expected to incur a loss attributable to equity holders of the company of approximately RMB 250-300 million in 2024, compared to a profit attributable to equity holders of RMB 16.7 million last year. The announcement stated that the turnaround from profit to loss is mainly due to extreme weather conditions affecting the group's operations in the Kazakhstan region this year, resulting in a significant decrease in working days compared to last year; the group making impairment provisions for certain assets; and some customers of the group continuing to reduce costs and increase efficiency, tightening investment and intensifying market competition, which has lowered the group's revenue and business profit levels for the year.