According to the Zhongtong Financial APP, Gofintech innov (00290) released its full-year results for the year ended March 31, 2024, with revenue of HKD 49.456 million, up 83.56% YoY; other net income was HKD 17.672 million, up 430.69% YoY.

The announcement stated that the group's revenue and net investment losses recognized in the income statement increased from approximately HKD 22.313 million for the year ended March 31, 2023 to approximately HKD 45.975 million, an increase of approximately 106.05%. This increase was mainly due to increased revenue from securities brokerage business and interest income from lending business.

Securities brokerage and margin financing business is one of the main sources of revenue for the Group. In the reporting year, revenue from securities brokerage and margin financing business (including inter-segment revenue) and net investment losses amounted to approximately HKD 37.051 million, an increase of approximately 406.92% from the total revenue (including inter-segment revenue) and net investment income of approximately HKD 7.309 million in 2023.

The branch achieved a profit of approximately HKD 8.572 million (2023: a loss of approximately HKD 12.428 million) in the reporting year. The main reason for the branch's turnaround was the increase in revenue from securities brokerage business.