Zhitong Financial App News, Maoji Kwai Chung (01716) announced that the Group is expected to achieve a consolidated net loss of not less than HK $8 million for the year ended March 31, 2022, while its audited consolidated net profit for the year ended March 31, 2021 was approximately HK $9.3 million.

According to the announcement, the deterioration was mainly due to the decrease in gross profit margins of the Group's digital media and other media services divisions; the Group was granted subsidies under the Employment Protection Scheme of the Government of the Hong Kong Special Administrative region in the corresponding year; the Group did not receive any related subsidies during the financial year; the profits of the associated companies decreased; and administrative and other operating expenses increased, mainly due to increased staff costs.