On September 19, Guolianhui announced that the company is expected to incur a net loss attributable to owners of approximately HK$0.1869 billion for the fiscal year ending June 30, 2023, compared to the net loss of owners for the fiscal year ending June 30, 2024, which is expected to be between approximately HK$0.34 billion and HK$0.37 billion.
This is mainly due to (i) the unfavorable impact of the industry still in the post-epidemic recovery stage, with delays in the production of TV dramas and the scheduling of artists under the group, resulting in a decrease in revenue from TV drama and variety show production and distribution during the reporting period compared to the financial budget prepared during the reporting period; and (ii) considering the current market environment, intensified competition, and future uncertainties, the company has recorded an impairment loss of approximately HK$0.23 billion during the reporting period.
