Gelonghui, Feb. 29 | China Everbright Green (01257.HK) announced that the company is expected to record losses attributable to shareholders of not less than HK$300 million for the year ended December 31, 2023, mainly due to intangible assets, property, plant and equipment, right-of-use assets, accounts receivable and contract asset wear and tear losses (taking into account any tax implications) of not less than HK$570 million. Losses in intangible assets, property, plant and equipment, and right-of-use assets are mainly due to the continuous sharp decline in volume and price in the domestic hazardous waste and solid waste disposal market, and operating losses on some of the company's projects continue. In addition, accounts receivable and contract asset wear and loss are mainly due to failure to collect government subsidy for online renewable energy in a timely manner.
For the year ended 31 December 2022, the profit attributable to the Company's equity shareholders was approximately HK$340 million, and losses on goodwill and property, plant and equipment wear and tear (after taking into account any tax implications) and losses on accounts receivable and contract assets were approximately HK$22 million and HK$110 million respectively.