Wynn Properties Development (00864) announced that the Group expects the year ending December 31, 2023 to achieve...
According to the Zhitong Finance App, Wynn Real Estate Development (00864) announced that the Group expects a net loss of approximately HK$46 million to HK$48 million for the year ending December 31, 2023, and a net profit of about HK$17.6 million in 2022. This is mainly due to the expectation that the fair value of the Group's investment properties will be reduced by a net amount in the year ended 31 December 2023, and a net increase in 2022.
The Group also expects to obtain additional comprehensive expenses of approximately HK$6 million to HK$8 million for the year ended 31 December 2023, and around HK$22.2 million in other comprehensive expenses in 2022. This is mainly due to a decrease in the fair value of the fund and fund properties in 2023.
The unrealized valuation changes will not be reclassified as profit or loss. They are non-cash items and will not affect the Group's daily operations and cash flow. The total overall expenditure for the year ended 31 December 2023 is expected to be approximately HK$53 million to HK$55 million, while the total overall expenditure for 2022 is approximately HK$4.6 million.