Zitong Financial App NewsletterGaomen Group (08412)According to the announcement, the group expects a net loss of about HK $2 million in the first quarter (net profit of about HK $2.02 million in the same period in 2020). The loss was mainly due to the fact that the Hong Kong, China Government stopped granting subsidies to support the industry to combat 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).

The board believes that the group's operating performance has actually improved, which can be reflected in first-quarter revenue of about HK $17.8 million, a more than three-fold increase from about HK $5.4 million in the same period in 2020, the announcement said. The increase was mainly due to the relaxation of measures such as "social distance" and "dining restrictions" implemented by 2019-nCoV 's illness, as well as the strong performance of the Group's business "FAYE", which was officially launched in June 2021.