Zhitong Financial APP News, Qiansheng Group Holdings (08475) released results for the six months ended February 28, 2022, with earnings of 6.846 million S $, a decrease of about 25.3% from the same period last year. The loss attributable to the owner of the parent company was 85000 S $, down 86.8% from the same period last year; the loss per share was 0.02 S $.

The announcement said the decrease was mainly due to an unusual surge in COVID-19 cases in Singapore in September as a result of the COVID-19 outbreak. In an effort to curb the spread of COVID-19, the Singapore government has tightened a number of measures to restrict social gatherings in Singapore, including dining restrictions for up to two people per table from September 27, 2021. The tightening measures have adversely affected sales of Singapore restaurants, especially those in the central business district, as people choose to work from home rather than eating out during this period.

The decrease in loss was mainly due to the decrease in depreciation and amortization of most of the Group's right-to-use assets in the previous financial year due to the COVID-19 epidemic.