Summary by Futu AI
On June 24, 2024, Wisdomcome Group Holdings Limited ("Wisdomcome Group") issued a profit warning and announced that the shareholders of the group would have a loss of no more than approximately HKD 115 million for the year ended March 31, 2024, a significant increase from the loss of approximately HKD 54.1 million in the same period of 2023. During this period, the group's revenue was approximately HKD 53.3 million, a decrease of about 25.3% year-on-year. The increase in losses was mainly due to the impact of rising market interest rates on lending business and the decline in borrowing demand, intense competition and reduced market share in retail and wholesale business, and increased fair value losses of financial assets. The company emphasized that this is a preliminary evaluation based on unaudited comprehensive management accounts and currently available information, and has not been audited or reviewed by auditors or audit committees. The final performance will be announced on June 26, 2024, and shareholders and potential investors should exercise caution.