Gelonghui August 24?01707.HK announced that for the six months ended June 30, 2023, earnings were approximately HK $63 million, compared with approximately HK $169.3 million in the same period last year. The loss attributable to equity holders of the company was approximately HK $6.5 million, compared with approximately HK $19.3 million in the same period last year, and the basic and diluted loss per share was approximately HK0.39 cents.
According to the announcement, the decrease in net loss during the period was mainly due to a reduction in the expected credit loss impairment recognized for other receivables, including material costs, subcontracting expenses and expenses paid on behalf of a joint venture operator, in the same period last year, due to the financial difficulties of the joint venture operator, it was recognized that the expected credit loss provision impairment was about HK $13.9 million.