China Tiangong Holdings (00428) announced that the group expects a profit of approximately HK$28 million to HK$32 million in the first half of 2023, while a net loss of approximately HK$33.7 million for the same period in 2022.
According to the announcement, the conversion from loss to profit was mainly due to an increase in unrealized income from listed investments (from a loss of about HK$33.6 million in the same period in 2022 to an income of about HK$27.7 million during the reporting period); an increase in realized income from listed investments (from about HK$300,000 in the same period in 2022 to approximately HK$1.5 million during the reporting period); and an increase in realized income from the sale of loan notes (from zero in 2022 to approximately HK$3.3 million during the reporting period).