FU SHEK FIN (02263) warns of profit decline, with an estimated mid-term net profit not exceeding HK$1.8 million.

"FU SHEK FIN (02263) released an announcement that the group expects its net profit for the six months ending on September 30, 2023, not to exceed HKD 1.8 million, compared to approximately HKD 8.7 million for the six months ending on September 30, 2022. The announcement stated that the decrease in net profit is primarily due to (i) a gradual decrease in demand for margin financing services, resulting in a decrease in interest income from margin financing services, and (ii) an increase in impairment losses on receivables generated from securities trading business under the expected credit loss model compared to the six months ending on September 30, 2022."