Yuk Wing Group (01536) announced that it is expected to incur a comprehensive net loss of not less than HKD 22.5 million for the fiscal year ending March 31, 2024, while the comprehensive net loss for the fiscal year ending March 31, 2023 was about HKD 3.6 million.
The increase in net loss is primarily due to a decrease in revenue, gross profit, and gross margin of the Manufacturing and Trading Down-the-Hole Tools segment, as well as a decrease in gross margin of the Trading Rock Drilling Equipment segment compared to the fiscal year ending March 31, 2023, in addition to an increase in fair value loss of financial assets recognized through profit or loss.