HK Stock Market Move | ZO FUTURE GROUP (02309) drops nearly 4% in the afternoon, expecting annual net loss attributable to shareholders to increase significantly to HK$190 million.

ZO FUTURE GROUP (02309) fell by nearly 4% in the afternoon, falling 3.9% to HK $2.22 with a turnover of HK $4.0312 million. On the news front, ZO FUTURE GROUP will hold a board meeting on September 24 to approve the annual performance. The company announced that it expects to incur a loss of approximately 190 million yuan attributable to owners for the fiscal year ending June 30, 2024, an increase from a loss of approximately 25.7 million yuan in the same period last year. The increase in losses is mainly due to no compensation from the football club division under the apportionment arrangement during the year; an increase in financing costs; losses from an associated company; increased administrative and other expenses; and additional impairment losses on property, factory and equipment, leasehold assets, and intangible assets.