According to the Zhitong Finance App, Elephant Future Group (02309) announced interim results for the six months ended December 31, 2023, with revenue of about HK$144 million, up about 32.5% year on year; loss attributable to company owners was HK$368.78 million, up about 30% year on year; loss per share was 4.78 HK cents.

According to the announcement, the increase in losses was mainly due to no compensation from the soccer club division under the profit and loss sharing arrangement between the company and Dongni; and an increase in financing costs, but profit from some of the sold player registrations increased; after completing the sale of certain interests of a non-wholly-owned subsidiary, the company owner's share of the losses of the non-wholly-owned subsidiary was reduced to about 51.72%; and the change in the fair value of the investment property was not offset by losses.