Dayu Finance (01073) announced the results for the year ended December 31, 2023. The group made profits during the period...
According to the Zhitong Finance App, Dayu Financial (01073) announced the results for the year ended December 31, 2023. The group achieved revenue of HK$43.36 million during the period, a year-on-year decrease of 43.47%; the company owner should have accounted for a loss of HK$162 million, and the company owner should have accounted for a profit of HK$5.365 million in the same period last year; the basic loss per share was HK14.2 cents.
According to the announcement, the consolidated net loss was mainly due to confirmed non-cash goodwill impairment losses of approximately HK$172 million. After deducting the above impairment, the remaining goodwill balance is approximately HK$109 million. The Group's corporate finance business is volatile and affected by market sentiment. In view of the sluggish stock market in Hong Kong, China and the low level of activity in the capital market, the Group believes that the calculation of goodwill impairment is necessary and sufficient. The goodwill impairment losses mentioned above had no cash flow impact on the Group's operations during the reporting period.