Gelonghui, May 29丨An Xianyuan China (00922.HK) announced that the company expects net profit for the year ending March 31, 2024 to be reduced by more than 40% compared to the previous year. The decrease is mainly due to: (i) The Group recorded a gross profit decrease of more than 18% compared to the same year. The decrease was mainly due to a decrease of about 16% in the total number of tombs sold this year, which reduced total revenue by more than 16%. (ii) The Group recorded a decrease of more than 35% in other revenue compared to the same year. The decrease was mainly due to bad debt recovery with no other accounts receivable in the current year (March 31, 2023: approximately HK$8.7 million). (iii) The Group recorded an increase of approximately 3% in sales expenses compared to last year. The increase is mainly due to the increase in promotion costs for developing the cemetery market. (iv) The Group recorded an increase of approximately 6% in administrative expenses compared to last year. The increase is mainly due to increased repair and maintenance costs for cemeteries and graveyard assets.