Zijing International Financial Holdings Limited Provides Group Earnings Guidance for the Three Months Ended 31 March 2023
Zijing International Financial Holdings Limited provided group earnings guidance for the three months ended 31 March 2023. The Group expects to record a loss attributable to owners of the Company of not less than HKD 2.4 million for the three months ended 31 March 2023, whereas the Group recorded a profit attributable to owners of the Company of approximately HKD 0.12 million for the three months ended 31 March 2022. The expected loss is attributed to (a) a decrease in revenue; and (b) an increase in operating expenses which was mainly due to (i) the operating expenses incurred by the
new representative office in Singapore which commenced operation in May 2022; (ii) increase in the depreciation of right-of-use assets as the result of the new office premise were leased by the Group in Singapore respectively; and (iii) increase in directors' remuneration and staff costs, including the staff of the new Singapore representative office.