Gelonghui November 15 | Gaoshan Enterprise (00616.HK) announced that compared with the net profit of approximately HK$63.4 million for the six months ended September 30, 2022, the Group expects to record a net loss of not less than HK$150 million for the six months ended September 30, 2023.
The anticipated net loss is mainly due to (i) a decrease in turnover; (ii) an increase in loss due to changes in the fair value of investment properties; (iii) an increase in impairment of holding and selling development properties; and (iv) an increase in financing costs. This loss was partly offset by (v) an increase in net income from changes in the fair value of financial assets included in profit and loss at fair value.