Yaoxing Technology Group Co., Ltd. (“Yaoxing Technologies”) issued a profit warning on March 22, 2024, and announced that it would record a combined net loss of approximately HK$27.8 million for the year ended December 31, 2023. This contrasts sharply with the HK$7.5 million net profit recorded for the same period in 2022. The company noted that the expected loss was mainly due to lower IT consulting services revenue, increased service costs, increased management and administrative expenses, and the lack of one-time acquisition gains in 2022. The data is for a preliminary assessment only and will announce detailed annual results in late March 2024, according to the company's report. The Company advises shareholders and potential investors to exercise caution and to read carefully the upcoming results announcement.

Yaoxing Technology Group Co., Ltd. (“Yaoxing Technologies”) issued a profit warning on March 22, 2024, and announced that it would record a combined net loss of approximately HK$27.8 million for the year ended December 31, 2023. This contrasts sharply with the HK$7.5 million net profit recorded for the same period in 2022. The company noted that the expected loss was mainly due to lower IT consulting services revenue, increased service costs, increased management and administrative expenses, and the lack of one-time acquisition gains in 2022. The data is for a preliminary assessment only and will announce detailed annual results in late March 2024, according to the company's report. The Company advises shareholders and potential investors to exercise caution and to read carefully the upcoming results announcement.