According to the announcement by SH Group Holdings (01637) on the Smart Finance app, it is expected that the group will suffer a net loss of no less than 15 million Hong Kong dollars by the fiscal year ending March 31, 2024, while the net loss for the same period in 2023 was about 11 million Hong Kong dollars.

The board of directors believes that the increase in expected net loss is mainly due to the following reasons: under the current market conditions, the amount of projects completed by the group based on the progress of the projects has decreased, leading to a reduction in revenue; and the lack of government subsidies from the Hong Kong Special Administrative Region's employment protection scheme launched, resulting in a decrease in other income by the end of the fiscal year ending March 31, 2024.