Glonghui, May 17, 丨 Yongshun Holdings Hong Kong (06812.HK) announced that according to the board's preliminary assessment of the information currently available (including the Group's unaudited comprehensive management accounts for the year ended March 31, 2024), although the Group's revenue for the fiscal year ended March 31, 2023 will be slightly increased by about 2%, but the Group expects profit before income tax for the 2024 fiscal year to be drastically reduced by about 46% compared with the profit before income tax of approximately HK$29.37 million in FY2023.
This sharp decrease in profit before income tax is mainly due to the following factors in FY2024: (i) higher service costs due to increased labor costs; (ii) higher general operating expenses due to increased provision for long-term service payments; and (iii) no government subsidies.