Zhitong Financial APP News, Huada Hotel (00201) and Shunhao property (00219) and Shunhao Holdings (00253) jointly announced that it is expected that compared with the six months ended June 30, 2022, the changes in the net profit of each of Huada Hotel, Shunhao property and Shunhao Holdings for the mid-2023 period are roughly as follows:
In mid-2023, Huada Hotel expects the net loss after revaluation and depreciation to be no more than HK $18 million, compared with a net profit of HK $106 million for the same period in 2022; it is estimated that the net profit after tax, excluding revaluation and depreciation, should be not less than HK $17 million, compared with a net profit of HK $145 million for the same period in 2022.
Shunhao property expects the net profit after revaluation and depreciation to be not less than HK $9 million in mid-2023, compared with a net profit of HK $61 million in the same period in 2022; it is estimated that the company owner should account for net profit after tax without taking into account revaluation and depreciation of not less than HK $49 million, compared with a net profit of HK $157 million for the same period in 2022.
Shunhao Holdings expects that in mid-2023, the net profit after revaluation and depreciation should not be less than HK $3 million, compared with a net profit of HK $3100 for the same period in 2022; it is estimated that the net profit after tax and depreciation should not be less than HK $24 million, compared with a net profit of HK $84 million for the same period in 2022.
It is reported that, compared with the mid-2022 period, the expected profit attributable to group owners in the mid-2023 period is mainly due to the reduction in hotel income due to the reduction in room prices (Huada Hotel, Shunhao property and Shunhao Holdings reduced by about 30%, 40% respectively); increased hotel operating costs; reduced office rental income (applicable only to Shunhao property and Shunhao Holdings); repair and maintenance costs after the hotel provided isolation services. And an increase in interest payments.
In mid-2023, the Group's hotels in Hong Kong, China maintained a high occupancy rate, while the average room price decreased, mainly due to the slow recovery of the tourism industry.