Gelonghui March 20 | Maiyue Technology (02501.HK) announced that according to a preliminary review of the Group's unaudited comprehensive management accounts for the year ended December 31, 2023, the Group expects to record annual profit during the review period to be reduced by no more than 60% compared to approximately RMB 49.1 million for the year ended 31 December 2022.

According to the Board of Directors, the above decline in profit expectations during the year is mainly due to (i) the decrease in the Group's revenue and gross profit from the Integrated IT Solutions Services Division during the review period, mainly due to a decrease in the number of projects undertaken by the Group during the review period, and a decrease in gross margin due to differences in project requirements and circumstances; and (ii) significant listing expenses during the review period.