Gelonghui, March 25 | Shen Wan Hongyuan Hong Kong (00218.HK) announced that in 2023, the Group's revenue will increase 45% year-on-year from HK$426 million in 2022 to HK$618 million. In 2023, the Group recorded a pre-tax loss of HK$125 million, and losses attributable to shareholders of HK$192 million. In 2022, the pre-tax loss was HK$871 million, and losses attributable to shareholders were HK$880 million.
The main reason for losses during the reporting period was due to anticipated credit loss provisions for bond products in institutional services and trading operations. This expected credit loss was not an actual loss. The Group adopted a series of risk control measures during the year, so credit losses are expected to decrease compared to the same period in 2022. The Group's business is developing normally, and the overall financial and operating conditions are good.