Universe Ent (01046) announced that the group is expected to incur a loss of approximately HK$25 million to HK$40 million for the fiscal year ending June 30, 2024. For the fiscal year ending June 30, 2023, the group recorded a loss of approximately HK$93.4 million.

The announcement stated that the loss decreased compared to the previous fiscal year, mainly due to the significant increase in revenue and contribution from the video distribution, film distribution and exhibition, and licensing and transfer of film copyrights divisions in this fiscal year. In this fiscal year, the impact of the COVID-19 pandemic in mainland China and Hong Kong has completely disappeared, and the group's revenue from newly released films has significantly increased compared to the previous fiscal year; and the impairment loss on film copyrights, films in production, and film-related deposits has decreased by approximately HK$29.3 million compared to the previous fiscal year.