According to the Zhitong Finance App, Guonong Financial Investment (08120) announced the results for the year ended December 31, 2023. The group achieved total revenue of HK$157 million during the period, an increase of 10.6% over the previous year; losses attributable to shareholders were HK$45,308 million, an increase of 140.44% over the previous year; and a basic loss of HK6.02 cents per share.
According to the announcement, the net loss attributable to the owners of the company was mainly due to a fair value loss of approximately HK$13.232 million in financial assets included in profit and loss, as well as an increase in losses in the food and beverage business of approximately HK$8.466 million; an increase in losses in the money lending business of approximately HK$3.42 million; an increase in losses in the financial services business of approximately HK$4.08 million; and an increase in losses in the children's education services business of approximately HK$1.894 million. The loss was offset by the reimbursement of approximately HK$2,323 million in excess provision for restoration costs of expired leases and approximately HK$1.173,000 in proceeds from the sale of subsidiaries.