According to Zhitong Financial APP, Aishi Group (08507) announced that the Group expects to make a loss attributable to corporate owners of not less than HK $4.8 million in the first half of 2023, while the profit attributable to corporate owners in the same period last year is about HK $32000.
The Board is of the view that the decline in the Group's performance during the relevant period is mainly due to a decline in both income and gross profit; no longer receiving COVID-19-related government subsidies provided by the Hong Kong SAR Government; and an increase in the provision for expected credit losses on trade receivables. And the increase in rental expenses (mainly due to the fact that the existing properties of the Group do not provide sufficient space for the day-to-day operation of the Group, the Group entered into a tenancy agreement with connected persons of the Group to lease five units adjacent to the properties of the Group).