Elephant Future Group (02309) rose more than 5% and rose 5.45% at press time to report HK$4.26, with a turnover of HK$1.64 million.
The Zhitong Finance App learned that Elephant Future Group (02309) rose by more than 5% and rose 5.45% at press time to HK$4.26, with a turnover of HK$1.64 million.
According to the news, the company issued an announcement yesterday. Compared with the loss due to the company owner of about HK$28.4 million in the six months ended December 31, 2022, the Group expects to obtain no more than HK$39 million in losses attributable to the company owner in the six months ending December 31, 2023.
The increase in losses was mainly due to (i) no compensation from the soccer club division under the profit and loss sharing arrangement between the company and Dongni Investment Co., Ltd. during the review period; and (ii) the increase in financing costs, which was partly due to (a) an increase in profit from the sale of player registrations; (b) after completing the reduction of certain interests in a non-wholly-owned subsidiary, the company owner was reduced to about 51.72%; and (c) the change in the fair value of the investment property was not offset by loss.