Gelonghui Credit Card (02051.HK) announced on March 15, that the Group expects to record an overall profit of approximately RMB 9 million to RMB 14 million for the year ended December 31, 2023, compared with the total loss due to company owners of approximately RMB 82 million for the year ended December 31, 2023.
The Board of Directors believes that the Group's expected overall profit for the year ended 31 December 2022 is mainly due to (i) good recovery of overdue assets from the credit matching business, which led to a sharp recovery of the expected credit loss amount under IFRS 9; (ii) the sharp reduction in share-based remuneration expenses compared to approximately RMB 34 million for the year ended 31 December 2022; and (iii) Beijing Shouhui Kaishou Technology Co., Ltd. and its subsidiaries generated approximately RMB 31 million for the year ended 31 December 2022 due to comprehensive termination of accounts There was no loss in yuan during the year.