Gofintech Innov (00290.HK) announced that the group is expected to record a comprehensive loss of about HKD 30-32 million for the year ending March 31, 2024, compared with a comprehensive loss of HKD 58.86 million for the year ending March 31, 2023, with an improved loss situation.

The improvement in comprehensive losses for the year is mainly due to (i) an increase in revenue from licensed business activities; (ii) an increase in other income, mainly including income from acquisition of joint venture companies and interest income from financial institutions; (iii) a decrease in expected credit losses on net accounts receivable and trade receivables; and (iv) a decrease in employee costs and financing costs for the year.