On February 21, Ge Longhui | Hong Kong Express Holdings (00032.HK) announced that the Group may have recorded an expected profit of about HK$450 million for the year ended 31 December 2023 due to the company's equity owners, while a loss of HK$445.3 million was recorded in 2022.
The shift from loss to expected profit is mainly due to (1) the current estimated net fair value income of financial assets measured at fair value through profit and loss is approximately HK$30 million (2022: loss of HK$615 million); (2) there is no transfer of losses in fair value reserves to profit and loss accounts through other comprehensive income debt securities measured at fair value after termination of confirmation (2022: loss of HK$152.1 million); and (3) loss due to a joint venture from HK$122 million in 2022 to 2023 Approximately HK$47 million .