Gelonghui July 28th 丨Jinli Group (03919.HK) announced that according to a preliminary review of the Group's unaudited comprehensive management accounts and currently available information for the six months ended June 30, 2023, the Group expects to record a net loss of between HK$10 million and HK$12 million during this period, compared to a net loss of approximately HK$6.6 million for the six months ended June 30, 2022.
The Board believes that the net loss for the period was mainly due to (i) the decline in turnover in the first quarter of 2023; (ii) the depreciation of RMB against the Hong Kong dollar, which caused the Group to record exchange losses during that period because the Group's reporting currency was HKD, and most of the Group's assets were denominated in RMB; and (iii) financing expenses resulting from rising interest rates increased.