Summary by Moomoo AI
Yun Bai International Limited recorded a loss of approximately HK$1.12 million for the year ended 31 March 2002, a significant increase from the loss of HK$6135 million in the previous financial year. The loss was primarily due to a significant decrease in revenue from the Lending Division and an increase in the net provision for loan receivables and interest expected credit losses. Revenue from the lending division decreased to approximately HK$48 million from approximately HK$8780 million in the previous year, and the expected net provision for credit losses increased to approximately HK$10.44 million from approximately HK$1,138 million in the previous year. IN ADDITION, REVENUE FROM THE COMMODITIES AND MERCHANDISE TRADING DIVISION DECREASED TO APPROXIMATELY HK$1.79 MILLION FROM APPROXIMATELY HK$11.29 MILLION IN THE PREVIOUS YEAR. After the reporting period, the Group changed the financial year closing date from March 31 to December 31 and changed the company name to Yunbai International Limited.