Gelonghui, September 26 (00559.HK) announced that the company expects to record a net loss of HK $65000000 to HK $75000000 for the year ended June 30, compared with a net loss of about HK $136000000 in the previous year.
The decrease in net loss was mainly attributable to: (I) no gross loss and inventory write-off of approximately HK $27000000 in the alcoholic products business; (ii) a decrease of approximately HK $26000000 in fair value loss on financial assets at fair value to profit or loss; and (iii) a decrease of approximately HK $13000000 in general and administrative expenses.