Arta Techfin (00279.HK) announced that for the fiscal year ending on March 31, 2024, the Group is expected to incur a comprehensive net loss of not less than HKD 60 million. The comprehensive net loss for the 2023 fiscal year is approximately HKD 90 million.

The announcement stated that the expected comprehensive net loss for the 2024 fiscal year is expected to decrease compared to the 2023 fiscal year, mainly due to the comprehensive impacts of the following: (i) an increase in income and other revenue of about HKD 13 million; (ii) a reduction in the provision for impairment losses of receivables of about HKD 3 million; (iii) a reduction in employee benefits expenses of about HKD 16 million; (iv) a reduction in advisory, legal, and professional fees of about HKD 4 million; and (v) a reduction in other operating expenses of about HKD 4 million, partly offset by an increase in technology news and maintenance expenses of about HKD 10 million and an increase in financing costs of about HKD 4 million.