Rongzhong Fin (03963.HK) announced that the profit for the six months ended September 30, 2024 is expected to be a loss of about 3,438,000 Hong Kong dollars, compared to a profit of approximately 1,293,000 Hong Kong dollars for the same period last year on November 25th.
The board of directors believes that the expected loss is mainly due to a decrease in revenue during the reporting period. The decrease in revenue is mainly due to a reduction in income from debt collection services, as the slowdown in the domestic economy of china has impacted the debtors' repayment ability, resulting in a decrease in repayment amounts and an extension of repayment periods, leading to a decrease in income from successful debt collection cases.
