Jingji Smart Culture (00550) issued an announcement. The Group expects the year ending December 31, 2023: (a...
According to the Zhitong Finance App, Jingji Smart Culture (00550) announced that for the year ended December 31, 2023: (a) the net loss will increase from approximately HK$8.7 million for the year ended 31 December 2022 to more than HK$21 million in fiscal year 2023; and (b) changes in the fair value of equity instruments that include other comprehensive benefits at fair value are expected to shift from approximately HK$27.8 million in fiscal year 2022 to losses of approximately HK$48.8 million in fiscal year 2023. The sharp increase in net loss was mainly due to (i) a decrease in the turnover of the Medical and Healthcare Division due to the end of the COVID-19 pandemic; (ii) increased administrative expenses; and (iii) the loss of the associated company Aurora Hong Kong, which accounted for the share of the Group's acquisition in fiscal year 2023. Equity instruments that include other full income at fair value changed from recording fair value earnings to losses due to the sharp drop in the stock price of Beijing Fund Finance in fiscal year 2023.