Dingyi Group Investment (00508) announced its results for the year ended March 31, 2023. The group made a profit of HK $1.217 billion, an increase of 684.97% over the same period last year. The profit attributable to the owners of the company was HK $4.666 million, compared with a loss of HK $101 million in the same period last year.
The announcement said that the change from loss to profit was mainly attributable to the increase in income from the property development business, and the provision for impairment losses in response to the receipt of loans and interest.