China Paint Group (01932) announced results for the year ended December 31, 2023, and the group obtained revenue of 4...
According to the Zhitong Finance App, China Paint Group (01932) announced the results for the year ended December 31, 2023. The group obtained revenue of HK$469 million, a decrease of 27.1% year on year; loss attributable to the company's shareholders was HK$671.15 million, a decrease of 31.6% year on year; loss per share was 6.71 HK cents.
As profitability and operating efficiency improved, the costs of sales and distribution expenses and administrative expenses were reduced. The Group's losses in 2023 were mainly due to the accrual of trade accounts receivable and notes impairment provision of HK$50.13 million, a net fair value loss of HK$11.48 million for investment properties, an increase of HK$5.81 million in financing expenses, and the combined impact of the positive contribution of subsidies and one-time expenses granted to integrate production facilities in mainland China.