<p>Zhitong App News: SINOHOPE TECH (01611) has announced that it is expected to incur a net loss of no less than approximately HKD 280 million for the year ending September 30, 2023, compared to a net loss of approximately HKD 200 million for the year ending September 30, 2022. The increase in net loss is mainly due to (1) impairment provision for the inability to extract cryptocurrency assets from the cryptocurrency exchange FTX, amounting to approximately HKD 86 million; and (2) expenses for employee layoffs and one-time corporate restructuring, with cost management plan-related expenses amounting to approximately HKD 15 million.</p>

01611

<p>SINOHOPE TECH is expected to incur a net loss of no less than approximately HKD 280 million for the year, an increase compared to the same period last year. The main reasons for this are the impairment losses caused by the inability to extract cryptocurrency assets and the expenses related to employee layoffs.</p>

SINOHOPE TECH issues profit warning, expecting a net loss of no less than approximately HKD 280 million for the year.