Quali-smart (01348) announced its annual results for the year ending March 31, 2024. Total revenue was approximately HKD177.3 million, a decrease of approximately 48.1% compared to the previous year. Gross profit was approximately HKD28 million, a decrease of approximately 37.7% YoY. Net loss attributable to owners of the company was approximately HKD73.941 million, an increase of 2.24% YoY. The loss per share was HKD0.0502.

The announcement stated that the main reason for the increase in net loss was the decrease in gross profit; the interest expense of the convertible bonds issued in May 2020 and the acceptance bills issued in May 2023 increased by approximately HKD1.5 million to HKD2.7 million from approximately HKD1.2 million in the previous year; and impairment losses on goodwill of the financial services division increased by approximately HKD9.3 million.