SINCEREWATCH HK (00444) issued a profit warning, expecting a mid-term net loss to increase by about 40% year-on-year | Profit Warning_Sina Finance_Sina.com

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SINCEREWATCH HK(00444) announced that it is expected that the group’s net comprehensive loss for the six months ended September 30, 2022 will increase by approximately 40% compared with the net comprehensive loss of HK$32.3 million in the same period last year. The increase in net loss was mainly attributable to the sharp drop in revenue and decrease in gross profit of the Group’s watch distribution business as a result of the outbreak of the COVID-19 epidemic and the city closure policy; and the increase in net foreign exchange loss.