According to the Zhitong Finance App, Zhiao Holdings (08282) announced results for the year ended December 31, 2023. Earnings increased by about 19.2% year on year to about HK$108.8 million; loss due to company owners was HK$32.483 million, up 191.9% year on year; loss per share was 128.4 HK cents.

According to reports, the increase in losses was mainly due to a decrease in the operating revenue of the Group's licensed mobile games, which reduced the Group's gross profit in 2023 by HK$9.4 million compared to 2022; increased expenses such as staff costs and office supplies, which increased the Group's administrative expenses by HK$11.7 million in 2023; and the confirmed impairment loss of intangible assets of about HK$5.6 million for the year ended December 31, 2023.