Gelonghui November 10th 丨Aiji Group (08507.HK) announced,According to a preliminary review of the Group's unaudited comprehensive management accounts for the six months ended September 30, 2023 and the information currently available to the Board of Directors, the Group expects to record losses attributable to company owners of no less than HK$9.1 million during the relevant period, while the profit attributable to company owners was about HK$5.1 million in the same period last year.

The Board believes that the decline in performance recorded by the Group during the relevant period was mainly due to the combined effects of: (i) a decline in revenue and gross profit; (ii) no longer recorded government subsidies related to COVID-19 from the HKSAR Government; (iii) an increase in confirmed impairment losses on trade receivables and deposits and other receivables relating to a customer; and (iv) an increase in rental expenses (mainly because the Group's existing properties did not provide sufficient space for the Group's daily operations, so the Group entered into leasing agreements with Group associates to lease properties adjacent to the Group The five units).