Gelonghui November 27丨Rongzhong Finance (03963.HK) announced that compared with losses of approximately HK$22.32 million for the period ending September 30, 2022, the same period last year, it is expected to record a profit of approximately HK$1.29 million for the six months ending September 30, 2023.
The Board believes that the anticipated increase in profit is mainly due to the Group's impairment loss provisions and a reduction in anticipated credit losses of about HK$7.5 million, and a reduction in financial costs of about HK$14.2 million. However, the Board of Directors hereby emphasizes that the impairment loss provision and anticipated credit losses are not of a cash nature and have no impact on the Group's cash flow.