Zitong Financial App News, Huiji Group (00610) announced that it is expected that the unaudited consolidated loss for the company owner in the first half of 2023 is about HK $430 million to HK $470 million. The unaudited consolidated profit attributable to the owners of the company in the first half of 2022 was HK $43 million.
According to the announcement, the shift from profit to loss is attributable to shared Lujin performance, and Lujin expects the unaudited consolidated loss attributable to owners to be about HK $1.2 billion-1.3 billion in the first half of 2023, while the unaudited consolidated profit attributable to Lujin owners for the same period in 2022 is HK $85 million. The unaudited consolidated loss of Lu Jin in the first half of 2023 was mainly attributable to the severe operating environment in the real estate industry, resulting in a decline in profit margins on real estate projects and an increase in provision for impairment of property and related assets; and an exchange loss of approximately HK $500 million in the first half of 2023.
In addition to the impact of Lujin's performance, the Group expects a slight improvement in its performance in the first half of 2023, which is the net impact of the following: niche Holdings Limited (stock code 240), a subsidiary of the Company listed in Hong Kong. Its performance is reported in the Group's construction, sewage treatment and steam fuel division) profit contribution increased in the first half of 2023 This is consistent with the improvement in operating results reported in niche's 2022 annual report. The net profit of the Group's Construction Materials Division and Quarry Division increased in the first half of 2023; the net loss on the Group's investment in equity securities and debt securities (excluding investments held by niche) was recognized to decrease in the first half of 2023; and the Group did not share the profits of two US joint venture companies in the first half of 2022, which held two residential leased properties in the United States.