On November 10, Gelonghui Pharmaceutical (00858.HK) announced that the company expects to record a loss of about HK$235 million and HK$240 million in the six months ending September 30, 2023, compared to a profit of about HK$46 million in the same period last year.
It is expected that the conversion of profit to loss during the current period is mainly due to non-cash items, losses arising from changes in the fair value of financial assets (that is, group convertible bond investments) that are included in profit and loss at fair value, while income with changes in fair value was recorded during the corresponding period in 2022.