On March 20, GLONGHUI | Accor Holdings (03313.HK) announced that the Group expects a significant net consolidated loss of approximately RMB 395 million for the year ended December 31, 2023, while the Group recorded a net consolidated loss of approximately RMB 148 million for the year ended December 31, 2022.
The announcement stated that losses are expected to increase this year, mainly due to a decrease in earnings and an increase in mining rights, trade receivables and notes receivable, prepayments, deposits and other receivables, and total impairment losses on investment properties.