02:24 AM EDT, 09/27/2022 (MT Newswires) -- DeTai New Energy Group (HKG:0559) expects net loss in the year ended June 30 to widen to HK$130 million ($16.6 million) to HK$140 million from HK$37 million in the year prior, according to a bourse filing on Monday.
The wider loss was mainly due to the written down of inventories on the liquor and wine business of HK$27 million, a fair value loss of HK$70 million, and an impairment loss on loans receivable of HK$13 million.
DeTai's annual results are expected to be released by end-September.
Shares of the hotel hospitality business slipped 5% in recent trade.
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