Feidao Tourism Technology (08069) announced that the loss for the year ended March 31, 2023...

The announcement stated that the above-mentioned increase in losses was mainly due to the following reasons: the performance losses of joint ventures accounted for by the Group were approximately HKD 5.1 million, while the performance income of joint ventures accounted for by the Group for the year ended March 31, 2023 was approximately HKD 2.1 million. The increase in losses accounted for approximately HKD 7.2 million mainly due to impairment losses recognized for an investment held in the joint venture; and one-time net losses of approximately HKD 2.4 million from the sale of subsidiary companies.

Compared with the revenue of approximately HKD 158 million for the year ended March 31, 2023, the revenue increased by approximately 150%, offsetting some of the impact of the increase in net losses.