Zitong Financial App News, Henghe Group (00513) announced that the Group expects to make a loss of not less than HK $100 million for the year ended June 30, 2023, compared with a profit of about HK $38.5 million for the same period in 2022.
The loss was mainly due to a decrease of about 25% in income compared with the same period in 2022, an increase in financial costs of about HK $29 million, and a net unrealised fair value loss on developing properties and investment properties, resulting in a net fair value gain compared to the same period in 2022.