On March 15, GLONGHUI Holdings (01008.HK) announced that the Group expects to record losses attributable to company owners of about HK$153.8 million to HK$173.8 million for the year ended December 31, 2023, while profit attributable to company owners was approximately HK$6.2 million for the same period in 2022.
Losses attributable to company owners were mainly due to (i) a decline in the performance of an associated company of approximately HK$32.0 million; (ii) confirmation of an associated company's impairment loss of equity impairment of approximately HK$66.4 million; and (iii) confirmation of impairment loss of goodwill of approximately HK$92.7 million.