CA Cultural Tech Projects Lower Year-End Losses

CA Cultural Technology Group Ltd. (HK:1566) has released an update.

CA Cultural Technology Group Ltd. anticipates a significant decrease in its net loss for the financial year ended March 31, 2024, estimating losses between HK$140 million to HK$180 million, a substantial improvement from the previous year’s HK$1,033 million. The reduction is attributed to lowered expenses across various sectors including selling, marketing, administration, and research, as well as reduced losses in joint ventures and associates, and a lower expected credit loss allowance. The company cautions that these figures are based on preliminary unaudited management accounts and advises shareholders and potential investors to await the fully audited financial results due by the end of June 2024.

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