PAX Global (00327) expects '17 profit to fall 40-50%

PAX Global Technology (00327) expects a decrease of 40-50% in net profit for the financial year ending 31 December 2017 compared to that for the financial year ended 31 December 2016. The expected decrease is primarily attributable to: significant increase in research and development expenses of the group in relation to the development of new and innovative products by HK$76 million; and intended recognition of impairment losses of assets.