Gelonghui June 30China International Capital International (00997.HK) announcementDuring the year under review, the Group recorded a total revenue of HK $119 million from self-sustaining operations, representing a decrease of 20.2% from the same period last year.The Group recorded a loss of HK $385.5 million (2022: HK $332 million), mainly due to (I) lower income from financing guarantees and other financial services and property investment business; (ii) significant losses on changes in the fair value of investment properties; (iii) significant losses on the sale of a subsidiary in the year; and (iv) significant provisions for expected credit losses.The annual loss per share attributable to the owner of the company is HK32. 38 cents.
The decrease in revenue and gross profit is mainly due to the annual depreciation of RMB against the Hong Kong dollar and I) lower income from financing guarantee and other financial services businesses (due to lower interest rates and service rates charged to customers) And ii) property investment business income decreased as a result of the sale of the Citic International Centre, although the revenue generated by the commercial building (in the original currency RMB) increased slightly, but was almost offset by the annual depreciation of RMB against the Hong Kong dollar.