Intelligence Finance App learned that Gofintech Innov(00290) rose more than 12% in the late trading, up 12.82% to HKD 0.88, with a turnover of HKD 3.7253 million as of press time.

According to the announcement released by Gofintech Innov, it is expected that the group's comprehensive loss for the fiscal year ending on March 31, 2024 will be about HKD 30-32 million, which is an improvement from the comprehensive loss of HKD 58.86 million for the fiscal year ending March 31, 2023.

The announcement stated that the narrowing of the loss is mainly due to the increase in revenue generated by licensed businesses of the group; other income increased, mainly including income from the acquisition of joint venture companies and interest income from financial institutions; the expected credit loss on accounts receivable and trade receivables decreased; and employee costs and financing costs have both declined.