E-Link International (00585) announced that the group expects to incur a net loss of approximately HKD 12 million in this period (ending on June 30, 2024 for a period of 6 months)...
According to the announcement released by E-Link International (00585), the group expects to incur a net loss of approximately HKD 12 million in this period (ending on June 30, 2024 for a period of 6 months), while earning a net profit of approximately HKD 5 million in the same period of 2023 (the previous period).
The board of directors believes that the expected decline in financial performance from a net profit in the previous period to a net loss in this period is mainly due to (including) a decrease of approximately 30% and 46% in revenue from the securities brokerage and asset management department and the financing department, respectively; and a three-fold increase in the total amount of provision for impairment losses on receivables and margin loans. The above factors have been partially offset by the decrease in unrealized losses caused by the realized net gains and fair value changes of equity investments classified as held for trading and held-to-maturity investments. The total net loss for this period has been reduced by approximately HKD 6 million.
