According to the Zhitong Finance App, iCentury Group (08507) announced that the Group expects to earn losses due to company owners of not less than HK$4.8 million in the first half of 2023, while the profit due to company owners for the same period last year was about HK$32,000.

The Board believes that the decline in performance recorded by the Group during the relevant period was mainly due to a decline in earnings and gross profit; no longer receiving COVID-19-related government subsidies from the HKSAR Government; an increase in anticipated credit loss provisions for trade receivables; and an increase in rent expenses (mainly due to the Group's existing properties not providing sufficient space for the Group's daily operations, so the Group entered into lease agreements with group affiliates to rent five units of properties adjacent to the Group).