Gelonghui, March 11, 丨 Shenzhen Holdings (00604.HK) announced that for the year ended 31 December 2023 (“FY2023”), the Group is expected to record an unaudited consolidated loss of approximately HK$248 million to HK$406 million in fiscal year 2023, compared to the audited comprehensive profit of approximately HK$2,085 million for shareholders who recorded equity in FY2022.
The expected change in profit to loss is mainly due to the combined effects of the following factors: (i) the majority of pre-sold properties did not meet the carry-over sales revenue requirements in FY2023, leading to a decline in sales revenue and gross profit; (ii) the shift in the results of the joint ventures and associated companies confirmed in fiscal year 2023 from accrued profits to losses; and (iii) the increase in financial costs recorded by the Group in fiscal year 2023.
Excluding losses attributable to joint ventures and associated companies in FY2023, the Group is expected to record an unaudited consolidated profit attributable to equity shareholders of approximately HK$338 million to HK$415 million in FY2023.