Jingrui Holdings (01862) announced that it is expected that the Group will achieve net results for the year ended December 31, 2023...
According to the Zhitong Finance App, Jingrui Holdings (01862) announced that the Group is expected to achieve a net loss of about RMB 1.7 billion to RMB 2 billion for the year ended December 31, 2023, and a net loss of approximately RMB 4.278 billion for the year ended December 31, 2022.
The decrease in expected losses is mainly due to the reduction in interest expenses and exchange losses on debt denominated in US dollars compared to the year ended December 31, 2022; and provision for impairment losses on property projects and accounts receivable for the year ended 31 December 2022 based on prudential principles, and there was no need to accrue significant provisions during this period, so related provisions were reduced.