Gelonghui August 7th 丨Hong Kong Chinese Limited (00655.HK) announced that OUE Limited (a subsidiary of a major joint venture of the company and listed on the main board of the Singapore Stock Exchange Limited) announced on the date of publication its unaudited comprehensive financial results for the six months ended June 30, 2023. According to the company's available information, it is anticipated that the Group may have recorded a joint venture profit of not less than HK$50 million during this period, while the six months ending June 30, 2022 (the “previous period”) will record a profit of around HK$269 million. This change is mainly due to a decrease in the joint venture's profit contribution from its investment targets recorded under the equity method, an increase in financial expenses, and a decrease in the net fair value income of the joint venture holding investments specified to be included in profit and loss at fair value.
According to the company's available data, it is expected that the Group's shareholders may have recorded a comprehensive profit of not less than HK$50 million during this period, while the previous period recorded a comprehensive profit of HK$297 million. This change is mainly due to a decrease in the profits of the joint ventures described above.