Liao Chuangxing Enterprise (00194) issued an announcement that it is expected that the Group will obtain for the year ended December 31, 2023...
According to the Zhitong Finance App, Liu Chong Hing Enterprise (00194) issued an announcement. It is expected that the Group's shareholders should account for losses of about HK$800 million to HK$850 million for the year ended December 31, 2023, while the profit for the year ended 31 December 2022 was approximately HK$86.1 million.
According to the announcement, the Group's performance turned into profit to loss mainly due to fair value losses for investment properties and confirmed impairment losses of about HK$896 million for the year ended 31 December 2023 and confirmed impairment losses of properties under development to be sold and properties to be sold. Notwithstanding this, since the fair value losses and impairment losses described above are non-cash, there is no impact on the Group's operating cash flow. The Group's overall financial and business conditions remain stable.