Tokyo Chuo (01939) announced that it is expected to achieve a net comprehensive loss of approximately 27 million Hong Kong dollars for the year ending on March 31, 2024, while a net comprehensive loss of approximately 8.3 million Hong Kong dollars was achieved for the year ending March 31, 2023.

The board of directors believes that the increase in net comprehensive loss is mainly due to the decrease in income from art auctions and related businesses for the year ending March 31, 2024, compared with the same period of the previous year, the impairment loss of financial assets, and the equity-settled share-based payments recognized in this year. The decrease in income from art auctions and related businesses is mainly due to market demand, the value and condition of art, and the unpredictability of the overall development of the art auction market, which is adversely affected by the uncertainty of the global economic and financial markets.