Gelonghui August 7?The 08300.HK Group announced that it expects to record an increase in losses attributable to the company's owners in the first quarter of 2023 compared with the three months ended June 30, 2022. The group's loss attributable to owners in the first quarter of 2023 is expected to range from HK $4.5 million to HK $5.5 million, compared with about HK $2.7 million in the first quarter of 2022.
Based on the information available, the Board considers that the expected increase in loss attributable to owners of the company in the first quarter of 2023 compared with the first quarter of 2022 is mainly attributable to (I) lower other income and income or loss, mainly due to the absence of government subsidies in the first quarter of 2023; and (ii) increase in property rental and related expenses, mainly due to certain restaurants where the Group has short-term leases in the first quarter of 2023.