ZO FUTURE GROUP (02309) released its annual performance, with a net loss attributable to shareholders of 183 million Hong Kong dollars, an increase of 612.39% compared to the same period last year.

ZO FUTURE GROUP (02309) announced its annual results for the year ending June 30, 2024. The group achieved a revenue of HK$275 million, an increase of 26.78% year-on-year; the company's attributable loss was HK$183 million, an increase of 612.39% year-on-year; with a loss per share of 23.37 HK cents. The announcement stated that the increase in loss was mainly due to the review of the year: no compensation for the football club branch under the profit and loss sharing arrangement between the company and East Ness; increased financing costs; losses attributable to a joint venture company; group administration and other expenses, including increased employee costs and professional service fees to meet the needs of new business divisions; and some increase in impairment losses on non-current assets, partly offset by profits from the sale of player registrations. After the completion of the sale of a partially owned subsidiary, the company's share of the loss of the subsidiary was reduced to approximately 51.72%; income from fair value changes in financial assets accounted for at fair value through profit or loss; and changes in fair value of investment properties did not offset losses.