Mingfa Group (00846) announced that it is expected that the Group will acquire the company for the year ended December 31, 2023...
According to the Zhitong Finance App, Mingfa Group (00846) issued an announcement. It is expected that the Group will obtain an annual loss of about RMB 500 million to RMB 800 million for the year ended December 31, 2023, and the company's annual profit of about RMB 0.18.6 billion for the year ended December 31, 2022.
According to the announcement, the company's annual loss during the reporting period is mainly due to a valuation loss in investment properties in 2023. The decline in investment property valuations is mainly due to the overall decline in the market value of commercial properties.