00519.HK announced that the company may record a loss of about HK $45 million for the financial year ended June 30, 2023, compared with a loss of about HK $163 million over the previous year.
The Board is of the view that the decrease in losses is mainly due to the following factors: (I) the fair value loss of financial assets recorded at fair value into profit or loss decreased from about HK $129000000 in the previous year to about HK $29000000 in that year, mainly due to the fair value loss on the investment of the fund. (ii) the increase in revenue and gross profit of the Group Resort and property Development Division was due to the centralized delivery of properties to customers in the year, while there was no centralized delivery arrangement in the previous year. As a result, the Group's overall gross profit increased from about HK $7000000 in the previous year to about HK $21000000 in that year; and (iii) the fair value loss on the Group's investment properties decreased from about HK $22000000 in the previous year to about HK $14000000 in that year. The Board would like to stress that the above factors (I) and (iii) are non-cash in nature.