According to the Zhitong Finance App, iCentury Group (08507) announced interim results for the six months ended September 30, 2023, with revenue of approximately HK$57.833 million, a year-on-year decrease of about 40.8%; losses attributable to company owners of about HK$9.128 million, compared to HK$5.247 million in profit for the same period last year; loss of 2.3 HK cents per share.

According to reports, the decline in performance is mainly due to a decline in earnings and gross profit; no longer receiving COVID-related government subsidies from the Hong Kong Special Administrative Region Government of China; an increase in confirmed impairment losses in trade receivables and deposits and other receivables relating to a customer (the customer who filed for bankruptcy protection under Chapter 7 of the US Bankruptcy Law on October 24, 2023); and rising rent expenses.