HK Stock Market Move | ZO FUTURE GROUP (02309) fell over 7% and is scheduled to announce its annual results tomorrow. The full year loss is expected to increase to HK$190 million.

ZO FUTURE GROUP (02309) fell more than 7%, dropping by 7.73% to HK$2.15 as of the time of writing, with a trading volume of HK$2.35 million. On the news front, ZO FUTURE GROUP will hold a board meeting on September 24 (tomorrow) to consider and approve the full-year performance of the company and its subsidiaries for the fiscal year ending June 30, 2024. The company previously issued a profit warning, expecting a net loss of approximately HK$190 million for the fiscal year ending June 30, 2024, compared to a loss of approximately HK$25.7 million for the same period last year. The increased loss is mainly due to lack of compensation from the football club division under the profit-sharing arrangement; increased financing costs; losses from an associated company; increased administrative and other expenses; and additional impairment losses on property, plant, equipment, leasehold land rights, and intangible assets.