Zhitong Financial APP News, Yichen Industry (01596) issued an announcement that it is expected that the group will make a consolidated net loss of about 33.5 million yuan in the six months ending June 30, 2023, a decrease of 107.8 million yuan compared to the consolidated net profit of 74.3 million yuan in the six months ended June 30, 2022.
It is reported that the deterioration in the Group's operating results is mainly due to a loss of about RMB 106.5 million on fair value changes related to transactional financial assets for the six months ended June 30, 2023, while the fair value change gain on these assets for the six months ended June 30, 2022 was about RMB 5.8 million. The loss on fair value changes was mainly due to changes in the price of shares of Hong Kong listed companies sold by the company during the period (up to the date of sale), which was the main factor contributing to the decrease in the Group's operating profit for the six months ended 30 June 2023.