Green Energy Technology Group (00979)'s profit warning expects annual shareholders' losses to narrow to about HK$11 million to HK$14 million year-on-year

According to Zhitong Finance App, Green Energy Technology Group (00979) issued an announcement. It is anticipated that the Group will obtain losses attributable to the Company's owners of approximately HK$11 million to HK$14 million for the year ended June 30, 2026 (fiscal year 2026), and approximately HK$16 million for the year ended June 30, 2025.

The board of directors believes that the reduction in losses is mainly due to (1) the increase in gross margin of the Group's renewable energy business division in fiscal year 2026 due to rising market prices of waste cooking oil; (2) the reduction in operating losses in the plastic recycling business as German processing plants suspended operations in August 2025; and (3) the new artificial intelligence chip trading business achieved operating profit in fiscal year 2026.