Summary by Futu AI
Apollo Smart Travel Group Limited (the “Company”) issued a profit warning, anticipating a comprehensive loss of between HK$7 billion and HK$11 billion for the year ended December 31, 2023. Compared to the previous fiscal period, the company experienced a significant decline and recorded a consolidated net profit of approximately HK$2.66 million in the previous period. The expected loss was primarily due to decreased revenue, lack of one-time fair value gains, decreased fair value gains on financial assets and increased impairment of goodwill and promissory notes. The company notes that this data is based on preliminary assessments and has not been audited. The Company will announce detailed annual results on or before March 28, 2024.