On February 21, GLONGHUI | China Joint Resources (00254.HK) announced that for the six months ended 31 December 2023 (the “period”), compared with the profit attributable to company owners of about HK$326 million for the six months ended June 30, 2023 (the “corresponding period”), the company expects to record losses attributable to company owners up to the current period of about HK$20 million to HK$30 million.
The Board considers that the transfer of profit was mainly due to a decrease of not more than HK$10 million or 24% in earnings for the period, as well as the lack of income from debt restructuring and other income from the sale of subsidiaries during the period (approximately HK$317 million and HK$376.24 million, respectively, recorded during the corresponding period).