Gelong Exchange (02680.HK) announced that for the year ended February 28, 2022, the company's income was HK $34.955 million, down 58% from the same period last year; the net loss for the period was HK $22.52 million, compared with a net profit of HK $2.38 million for the same period; and a loss of HK5.63 HKD per share.

Affected by the negative market sentiment, in particular the grim COVID-19 situation in Hong Kong and around the world, there has been a decrease in revenue generated by various business segments, including corporate financing advisory services, placing and underwriting services, securities trading and brokerage services and asset management services, which is in line with the overall market trend for the year. As the total number of newly listed companies in Hong Kong has dropped from 154 in 2020 to 98 in 2021, and compared with seven newly listed companies in February 2021, only three companies will be newly listed in February 2022. The commission income from IPO subscriptions has also decreased.