PAX Global Tech Faces Big Profit Drop

PAX Global Technology, listed as HK:0327, has some bad news for its investors. The company expects its profits to take a big hit, likely dropping by 30% to 40% by the end of 2024 compared to the previous year. This news comes as a shock because of several factors.First, the global economy is creating uncertainty, which is hurting the company's revenue in key regions. Then, there's a one-time payment issue involving shares that's also weighing heavily on the company's finances. To make matters worse, they're missing out on a tax break they had last year for their research and development projects. Investors are being warned to be careful as these problems continue to affect PAX Global Technology's financial health. For more details on this situation, you can check out TipRanks' Stock Analysis page on HK:0327.