GAOYU FINANCE (08221) issued a profit warning, expecting a net loss of approximately HK$9 million to HK$10.5 million in the mid-term.

GAOYU FINANCE (08221) announced that the group is expected to incur a net loss of approximately HK$9 million to HK$10.5 million for the six months ending on September 30, 2024, compared to a net loss of approximately HK$2.673 million for the six months ending on September 30, 2023. The Board of Directors believes that the increase in net loss is mainly due to a fair value loss of approximately HK$7.5 million on investments recognized in profit or loss and an impairment loss of approximately HK$8.5 million on a receivable related to margin financing business. Despite the higher expected losses in this period compared to the previous period, the group's total revenue has increased significantly in this period. Progress has been made in all business areas of the group during this period.