METROPOLIS CAP (08621.HK) announced on August 13th that based on the unaudited comprehensive management accounts of the Group ending on June 30, 2024 and the information currently available to the board of directors, the Group is expected to record a decrease of about 50% in pre-tax profit for the reporting period as compared to the corresponding period ending on June 30, 2023, except for a pre-tax surplus of about RMB 10.8 million.

The decrease is mainly due to (i) the transfer of losses from the leasing receivables set aside in the corresponding period to the leasing receivables set aside in the reporting period, which were generated from the recovery of leasing receivables and post-sale lease arrangements from the corresponding period; and (ii) an increase in other operating expenses, partly offset by (a) an increase in revenue, mainly due to an increase in consulting service income from financing leasing; (b) the net amount of the reversal of losses set aside for factoring receivables; and (c) the offsetting of the decrease in financing costs.