Summary by Moomoo AI
VICTORY SEC released a positive profit forecast, expecting a consolidated net loss of approximately 1.81 million HKD for the fiscal year 2024, significantly narrowing from a loss of 25.08 million HKD in 2023. The main operating subsidiary, VICTORY SEC Limited, anticipates a turnaround from loss to profit compared to the same period last year, indicating a marked improvement in the group's overall Operation condition.The improvement in performance is mainly attributed to two factors: first, revenue growth, particularly from the contribution of virtual asset-related Business; second, due to the implementation of stringent credit control, the net expense for expected Crediting losses on receivables has decreased, and approximately 4.88 million HKD of expected Crediting losses is expected to be recovered this fiscal year. The company will announce its detailed performance report on March 20, 2025.
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