Shen Wan Hongyuan Hong Kong (00218) issued an announcement. The Group expects the year ended December 31, 2023 to be completed...
According to the Zhitong Finance App, Shen Wan Hongyuan Hong Kong (00218) issued an announcement. The Group expects an unaudited comprehensive post-tax loss of HK$180 million to HK$198 million for the year ended December 31, 2023, while a loss of HK$880 million after comprehensive tax deduction was achieved in the same period last year.
Despite many adverse factors such as geopolitical tension and the tightening of global monetary policies, the global economy showed a downward trend in 2023 and the Hong Kong capital market continued to be sluggish, and the Group's total revenue still rose significantly compared to 2022, mainly due to the increase in interest and investment income compared to 2022. In addition, the Group has adopted a series of risk control measures. Expected credit losses from debt products for institutional services and trading businesses in 2023 were drastically reduced compared to 2022, and this expected credit loss was not actually lost. The Group's business is developing normally, and the overall financial and operating conditions are good.