On June 23, Glory Times reported that HK Chaoshang GP (2322.HK) issued a profit warning, expecting a net loss of HKD 80-90 million for the year ending March, compared to a loss of approximately HKD 42 million in the same period in 2023. The Company claimed that the increase in net loss was mainly due to the difficult economic environment in Mainland China and Hong Kong, as well as the poor performance of the stock market, resulting in a approximately 30% decrease in total revenue from the principally trade and financial services business. In addition, losses from expected credit losses provision for trade, loans and other receivables as well as impairment of intangible assets have increased. Finally, the losses from selling equity interests of associates and cancellation of a subsidiary also incurred losses.