On March 11, GLONGHUI | Asia Securities Real Estate (00271.HK) announced that the Group expects to record a net net profit of approximately HK$260 million to HK$270 million for the year ended 31 December 2023, compared with a net loss of about HK$44 million in 2022.
According to the announcement, the main reason for the improvement in the Group's financial performance is (i) fair value income from investment properties, which is mainly due to fair value income from the acquisition of investment properties in 2023, compared to fair value losses from investment properties last year; and (ii) the return of impairment losses on loans and interest receivable in the current year compared to last year's impairment losses.