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<Alert> Sino Oil and Gas Holdings (00632.HK) Expects to Record Net Profit of No Less Than HKD16.2 Million Last Year
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Sino Oil and Gas Holdings (00632.HK) announced that for the year ended December 31, 2025, it expects to record a net profit attributable to company owners of no less than HKD16.2 million, compared to a net loss attributable to company owners of approximately HKD21.5 million for the same period in 2024. The group stated that the expected turnaround from loss to profit is mainly due to the reversal of impairment losses on oil and gas assets and intangible assets in Utah, amounting to approximately HKD51.4 million (2024: HKD28.9 million); a one-time penalty of HKD4.7 million related to a lease termination by the Bureau of Land Management in the fiscal year 2024, which did not occur in the fiscal year 2025; and the reversal of impairment losses on trade and other receivables of HKD0.2 million in the fiscal year 2025, compared to a provision for impairment losses on trade and other receivables of HKD6 million in the fiscal year 2024. (hc/u) Auto-translated by third-party software This translation was auto-generated by third-party software. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. More Details
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