Source Universe Education (01082) announced that the group expects to obtain public service for the six months ending December 31, 2023...
According to Zhitong Finance App News, Source Universe Education (01082) announced that the group expects to obtain losses attributable to company owners of not less than HK$16 million for the six months ending December 31, 2023, while losses attributable to company owners for the same period in 2022 are approximately HK$6.5 million.
According to the announcement, the expected losses are mainly due to impairment losses of approximately HK$1.1 million on loans receivable for the six months ended 31 December 2023, and about HK$3.8 million in depreciation of loans receivable in the same period of 2022; and losses from fair value changes in the fair value of financial assets taken into account profit and loss for the six months ended 31 December 2023, while the fair value change loss of financial assets taken into account profit and loss in fair value for the same period of 2022 was approximately HK$3.8 million. These losses are mainly due to the slowdown in the Group's investment market value, which is largely affected by current market uncertainties in Hong Kong's economic climate and the overall global landscape.
Despite this situation, the Group has consistently taken a series of measures, including allocating more resources to introduce new education programs and marketing, increasing revenue in the business segment, and adopting strict controls on cost reduction. The board of directors believes that in recent months, the Group has maintained strong working capital and normal business operations, which indicates the Group's healthy financial, business and trade conditions. Furthermore, the Group is committed to seeking sustainable growth opportunities through continuous business expansion.