On June 21, Guolonghui disclosed that Hong Kong Food Investment (00060.HK) is expected to record a loss of HKD 18-22 million for the year ending March 31, 2024, compared to a profit of about HKD 1 million in the previous year.
The expected performance loss is mainly due to (i) the decline in income and operational losses of the dining business caused by economic slowdown and increased north-south cross-border consumption; and (ii) the comprehensive impact of fair value adjustment on financial assets.