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China Investment Development Expects 30% Increase in Net Loss in FY22; Shares Up 3%

MT Newswires ·  {{timeTz}}

01:05 AM EDT, 06/29/2022 (MT Newswires) -- China Investment Development (HKG:0204) is expecting its consolidated net loss to rise 30% compared with the corresponding period in 2021, according to a filing on Tuesday.

The increase is attributed to the rise in other income to HK$10 million ($1.3 million) from HK$1 million, as well as to the increase in the net amount of reversal of impairment losses, net loss on financial assets at fair value and administrative and other expenses .

The company's results for the year are expected to be published by end-June.

Shares of the company rose nearly 3% in midday trade.

Price (HKD): $0.04, Change: $0.00, Percent Change: +2.86%

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