Qi-house (08395.HK) announced that it is expected to have a net loss of no more than HKD 19 million for the year ending March 31, 2024, while the net loss for the year ending March 31, 2023 was about HKD 11.1 million.

The board of directors believes that the increase in losses is mainly due to the sluggish economic situation in Hong Kong and the decrease in retail sales, which has led to a decrease in revenue and gross profit, as well as a decrease in furniture sales in chain stores in mainland China.