Summary by Moomoo AI
Dongying Travel Holdings Limited (“Dongying Travel”) issued a positive profit warning, expecting to record a net profit of approximately HK$71,700,000 in fiscal 2023, compared to a net loss of approximately HK$74,300,000 in fiscal 2022. This shift was mainly driven by the recovery of the tourism industry, notably the lifting of the COVID-19 quarantine measures in Hong Kong and the opening of Japan's borders to incoming tourists, which led to a significant increase in revenue from Dongying's tourism-related and hotel business. Revenue for FY 2023 is expected to reach HK$1,366,000,000, an increase of 595.2% compared to FY 2022. The company emphasises that this forecast is based on a preliminary assessment and has not been reviewed or reviewed by an independent auditor, and the final figure is subject to change. Dongying Tour will announce detailed results in late March 2024.