According to the Zhitong Finance App, Coax International (08042) announced that the group expects a net loss of no more than HK$5 million for the year ended 31 December 2023, while the net profit for the year ended 31 December 2022 is approximately HK$14 million.

The net loss situation for the year ended December 31, 2023 was mainly due to a decrease in revenue from recruitment services; an increase in employee costs as the Group is expanding its operations in Hong Kong, China and Singapore; and the Group's Singapore operations are in its infancy, the Group will need time to gain a foothold in the local market in order to make a positive contribution to the Group's performance.