ARTA TECHFIN (00279) expects a net consolidated loss of not less than approximately 18 million Hong Kong dollars in the mid-term, showing a narrowing compared to the previous year.

ARTA TECHFIN (00279) announces that, based on the preliminary evaluation of the unaudited consolidated management accounts of the Group for the six months ended September 30, 2024 ("first half of the 2024 financial year") by the Board of Directors, the Group is expected to incur a net comprehensive loss of not less than approximately HK$18 million in the first half of the 2024 financial year, compared to a net comprehensive loss of approximately HK$47 million for the six months ended September 30, 2023 ("first half of the 2023 financial year"). Based on the information currently available to the Board of Directors, the net comprehensive loss for the first half of the 2024 financial year is expected to decrease compared to the first half of the 2023 financial year, primarily due to the following factors: an increase in revenue and other income of approximately HK$13 million, attributed to significant improvement in the performance of asset management, financial advisory services, and insurance brokerage business, as well as the company's efforts to expand its customer base and revenue sources in the first half of the 2024 financial year; and a decrease in employee benefit expenses and information technology and maintenance expenses of approximately HK$17 million, in line with the company's cost efficiency measures, partially offset by an increase in professional fees of approximately HK$3 million and other operating expenses of approximately HK$2 million in the first half of the 2024 financial year.