On November 18, Gelonghui reported that thelloy dev (01546.HK) announced that the group expects to record a net loss of no more than 14,000,000 Hong Kong dollars for the six months ending September 30, 2024, compared to a net profit of approximately 240,000 Hong Kong dollars in the previous period.

The change in performance during the period is mainly due to (i) an increase in direct costs, primarily including subcontracting costs and direct employee costs; and (ii) an increase in financing costs, mainly due to increased interest rates or bank borrowings during the period.