China Tonghai Finance (00952) announced that the Group expects an unaudited consolidated pre-tax profit of approximately HK $102 million to HK $118 million in the first half of 2023, compared with an unaudited consolidated pre-tax loss of about HK $260 million in the first half of 2022.
The announcement said that the return to profit from unaudited consolidated pre-tax profits in the first half of 2023 was mainly due to improved operating results, a return to profit on the fair value of certain financial assets and a reduction in expected net credit losses on the loan portfolio.