[Caihua News] Yichen Group (08365.HK) announced that for the year ended September 30, 2021, the Group's revenue from continuing operations was approximately HK$309.34 million, a year-on-year decrease of 31.65%. The annual loss was approximately HK$2.088 million, a year-on-year decrease of 42.97%. Loss of HK3.85 cents per share from continuing and terminated operating operations. No dividends.
The reduction in annual losses was mainly due to the combined impact of (i) the Group's contribution from providing corporate finance advisory services and placement and underwriting services compared to the year ended September 30, 2020; (ii) reduced administrative expenses and other operating expenses; and (iii) reduced provisions for impairment of goodwill.
The Group's total revenue decreased by approximately 40.7% to approximately HK$37.2 million (2020: approximately HK$62.7 million), mainly due to the decrease in the Group's contribution in providing placement and underwriting services from approximately HK$34.8 million for the year ended September 30, 2020 to approximately HK$10.6 million for the year ended September 30, 2021.