Oceanwide Group (00129) issued an announcement. The Group expects shareholders to account for the six months ending September 30, 2023...
According to the Zhitong Finance App, Oceanwide Group (00129) announced that the Group expects losses attributable to shareholders for the six months ending September 30, 2023 to about HK$850 million to HK$950 million, compared to the profit achieved in the corresponding period in 2022 of HK$39 million.
The above changes are mainly due to (i) an increase in anticipated credit losses for debt securities investments; (ii) a decrease in interest income from financial investments; and (iii) higher profit attributable to joint venture real estate development projects last year.