Wisdomcome gp (08079) announced its annual results ending on March 31, 2024. The group's revenue from lending was HKD 14.029 million, a decrease of 36.41% year-on-year. The pre-tax loss was HKD 115 million, an increase of 112% year-on-year. The loss per share was HKD 0.23.

The announcement stated that the increase in pre-tax loss was due to the decrease in demand for loans caused by rising market interest rates, the adoption of a cautious approach to loan evaluation and approval processes in the lending business segment, the emergence of multiple new competitors with similar business models in the market, a decrease in market share of the wholesale business segment of the retail and wholesale business segment, and an increase in fair value loss of financial assets classified as profit or loss.