Sinohope Technology (HKG:1611) expects a net loss of at least HK$10 million for the six months ended March 31, compared with a net profit of HK$101.2 million a year prior, a May 16 Hong Kong bourse filing said.
The anticipated swing to loss was mainly due to a lower revenue from other businesses, mainly due to the suspension of cryptocurrency mining services; a decrease in fair value gains on cryptocurrencies; and the absence of a one-off reversal of the provision of impairment of the FTX Deposit.
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