royalbetslot| Xinhuo Technology Holdings (01611.HK) Yingxi: It is expected to turn a profit of more than HK$80 million in the medium term

Gelonghui May 21 丨 Xinhuo Technology Holdings (01611royalbetslot.HK) announced that the company expects to record a net profit of no less than HK$80 million for the six months ended March 31, 2024, compared with a net loss of approximately HK$232 million for the same period last year.

The expected net profit is mainly due to (1) the reversal of the gain on impairment provision for FTX deposits of approximately HK$78.8 million due to the increase in the market recoverability of FTX depositsroyalbetslot;(2) Due to the continuous improvement of cost management, administrative expenses decreased by no less than HK$50 million compared with the 2023 period;(3) due to the adjustment of the Group's business strategies, gross profit increased by no less than HK$20 million; and (4) the fair value gain of cryptocurrency was no less than HK$40 million.