Zitong Financial App News, Ruiwei Capital Management (01835) issued an announcement that the Group expects to make a net loss of no more than 30 million yuan in the six months ending June 30, 2023, and a net loss of about 10.7 million yuan in the six months ended June 30, 2022.
The Group expects the increase in net loss during the period mainly due to the severe situation in the real estate industry and the fact that market confidence has not yet been fully repaired, the Group's real estate fund management business slowed down during the period, resulting in a decrease in income from management fees as compared with the same period last year; and losses on investments in associates or joint ventures at fair value to profit or loss as a result of the transfer of fund shares.