On August 16th, according to the unaudited comprehensive management accounts and current information of the company as of June 30, 2024, Singholdings (01440.HK) estimates a net loss of approximately RMB 1 million, a significant decrease of about 82.1% compared to the same period in 2023.

The board of directors believes that the significant decrease in estimated losses for the six-month period ending June 30, 2024 is mainly due to the outstanding performance of the footwear business, resulting in a 5 to 6-fold increase in the group's expected revenue compared to the same period in 2023.