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Anle Engineering, a subsidiary of Pan Letao, is expected to earn more than 50% less in half a year. Potential provision for legal proceedings

2022-06-22T11:35:45.030Z


Anle Engineering (1977) announced that based on the information currently available to the board of directors (including the most recent unaudited consolidated management accounts of the group for the five months ended May 31, 2022), the board of directors initially estimated that the same as in 2021


Anle Engineering (1977) announced that based on the information currently available to the board of directors (including the latest unaudited consolidated management accounts of the group for the five months ended 31 May 2022), the board of directors preliminarily estimated that there was no unaudited record for the same period in 2021. Compared with the audited consolidated net profit of approximately RMB112.5 million, the Group expects to record a decrease of no less than 50% in net profit for the six months ended 30 June 2022, mainly due to the recent legal proceedings against the Group. Provision for potential liabilities of the group.

Anle Engineering has recently issued a further notice regarding its subsidiary Anle Mechanical and Electrical Equipment's involvement with Shun Hing Group in breach of competition regulations, stating that the company has noticed the Competition Commission and submitted an application to the Competition Tribunal to seek relief and litigation as stated in the application .

The notice added that the company is seeking legal advice on the lawsuit.

An Lok Engineering was founded and chaired by Mr. Poon Lok To, the husband of the Secretary for Justice, Mrs Cheng Yuk-wah.

Source: hk1

All news articles on 2022-06-22

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