Gelonghui September 26?Henghe Group (00513.HK) announcementFor the financial year ended June 30, 2023, the Group's consolidated income decreased by about 24.56 per cent year-on-year to HK $455.6 million. During the year, the loss attributable to the owners of the company was HK $98.3 million, compared with a profit of HK $12.1 million last year.The basic loss per share was HK14.39 cents (2022: basic earnings per share was HK1.78 cents).
The loss for the year was mainly attributable to: (I) the decrease in income and gross profit by about HK $148.3 million and HK $78.9 million respectively, which was mainly due to the write-off of about HK $49.9 million by properties under development due to the current property market conditions; (ii) the recognised loss of about HK $27.8 million in the current financial year due to changes in the fair value of investment properties, compared with a gain of about HK $98.5 million in the previous financial year And (iii) recalled that the financial cost increased by approximately HK $29.1 million during the year (as a large part of the financial cost was not capitalized as part of the property development cost, but was directly recorded as an expense this year after the completion of the "Heng Hui Centre" in July 2022) and the interest rate increased.