Intelligent financial news app reports that Fu Shek Fin (02263) announced that the group expects its net profit for the financial year ending March 31, 2024 to not exceed 3.6 million Hong Kong dollars, while it was approximately 12 million Hong Kong dollars for the financial year ending March 31, 2023.

The announcement stated that the group's net profit decreased mainly due to the decrease in demand for margin financing services, the decrease in interest income from margin financing services, and the impairment loss on accounts receivable generated from securities trading business under the expected credit loss model, which resulted in a loss increase compared to the financial year ending March 31, 2023.