On March 19, Ge Longhui (02223.HK) announced that compared with the profit attributable to shareholders of approximately HK$5.4 million for the year ended December 31, 2022, the Group expects to record a loss attributable to shareholders of not more than HK$5 million this year.
According to the information currently available, the Board believes that the main reason for the shift from profit attributable to shareholders for the year ended 31 December 2022 to loss due to shareholders for the year ended 31 December 2022 remains the factors disclosed in the profit warning notice and also due to impairment losses on anticipated investment properties. Compared with the estimated loss range of about $9 million to HK$11 million as described in the profit warning notice, the loss attributable to shareholders for the current year was reduced to no more than HK$5 million, mainly due to inventory and trade receivables provision refunds based on the inventory and accounts receivable status as at 31 December 2023.