Zhitong Financial APP News, Open Source Holdings (01215) announced that the Group expects to achieve a loss of about HK $2 million attributable to the company's owners in the six months ended June 30, 2023, compared with a loss of about HK $22.1 million in the first half of 2022.
The significant decrease in the expected loss in the medium term is mainly due to a gross profit of about HK $30.8 million (first half of 2022: gross loss of about HK $18.3 million) in the medium term (mainly from Paris Marriott Hotel Champs- É lyses) because Paris Marriott Hotel was partially closed for refurbishment; this was partly offset by a reduction in other income to about HK $15.7 million (first half of 2022: about HK $26 million), mainly due to the lack of government subsidies in the medium term. Provision for impairment of loans against assets pledged by an associate is approximately HK $3.5 million (first half of 2022: nil); and income tax credit is reduced to approximately HK $200000 (first half of 2022: approximately HK $5.7 million).