Gelonghui Group (08412.HK) announced that it expects a net loss of approximately HK $2 million (compared with a net profit of about HK $2.02 million for the same period in 2020) for the quarter ended August 31, 2021 ("the first quarter").

The Board considered that the loss was mainly due to the cessation of financial assistance from the Government of the Hong Kong Special Administrative region in response to the impact of supporting the industry against 2019-nCoV 's disease, resulting in no related other income in the first quarter (about HK $8.7 million in the same period in 2020).

Nevertheless, the Board is of the view that the Group's operating performance has in fact improved, which is reflected in revenue of about HK $17.8 million in the first quarter, a more than three-fold increase from about HK $5.4 million in the same period in 2020. The increase was mainly due to (I) the relaxation of measures such as "social distance" and "dining restrictions" implemented by the Government in response to 2019-nCoV 's illness, as well as the strong performance of the business "FAYE", which was officially launched by the ii Group in June 2021.