Hong Kong listed company HKE: Expected losses to increase due to application for virtual asset trading platform license

Odaily Planet Daily reported that HKE Holdings Limited, a Hong Kong-listed financial technology company, issued a profit warning, stating that it expected to record a loss of approximately S$14.5 million for the year ending June 30, 2023, compared with a loss of approximately S$14.5 million for the year ending June 30, 2022. The loss was approximately S$11.2 million. The main reasons for the expected increase in losses are: (i) increase in staff costs, mainly due to the increase in professional talents due to the development of the financial technology platform business and the application for a virtual asset trading platform operator license; (ii) the information technology related to the financial technology platform business Expenses increase.