Zhitong Financial APP, Jiayi Holdings (01025) announced that it is expected that the Group will make a loss of not less than HK $24 million for the year ended March 31, 2022 (without taking into account further impairment or provision (if any) that may be made, and a loss of approximately HK $44.7 million for the year ended March 31, 2021.

The decrease in expected losses is mainly due to a decrease in impairment losses redirected after deducting trade receivables, the relevant trade receivables mainly related to a major customer who had filed bankruptcy protection under Chapter 11 of the United States bankruptcy Law for the year ended 31 March 2021; and the Group's inventory write-downs for the year ended 31 March 2022 decreased compared with the previous year.