According to the announcement released by Rongzhong Fin (03963), the loss for the fiscal year ending on March 31, 2023 is expected to be approximately HKD 123 million, which is lower than the previous year's same period... It is estimated that the group will have a loss of approximately HKD 7.6 million for the fiscal year ending on March 31, 2024.

The announcement stated that the expected reduction in losses is mainly due to the reduction of expected credit losses provision for the group's financial assets by approximately HKD 77.8 million; the reduction of impairment losses provision for goodwill recognition by approximately HKD 9.6 million; and the reduction of financial costs due to the sale of several subsidiary companies of the group for approximately HKD 28.4 million as of March 31, 2023. The Board of Directors emphasized that these expected credit losses and impairment losses provisions are not of a cash nature and have no impact on the group's cash flow.