On March 15, Ge Longhui | Meijiayin Holdings (06939.HK) announced that the company expects the net profit attributable to company owners in fiscal year 2023 to be reduced by about 47% to 52% compared to the net profit attributable to company owners for the year ended December 31, 2022.

The decrease in net profit attributable to company owners in FY2023 was mainly due to the following factors: (i) the Group's overall gross margin declined due to the decline in gross margin of compatible printer consumables chips due to fierce competition in the FY2023 compatible printer consumables chip industry; (ii) the Group's sales and distribution expenses increased in FY2023 due to the resumption of face-to-face business interaction with target customers; and (iii) the increase in the Group's other expenses in FY2023, mainly due to material scrapping.