Sycamore International (00613) announced its 2023 annual results, with total revenue of about HK$113 million, a year-on-year decrease of 2...
According to the Zhitong Finance App, Wutong International (00613) announced results for the full year of 2023, with total revenue of about HK$113 million, a year-on-year decrease of 27%; losses attributable to company owners were HK$140 million, an increase of 716.13% over the previous year; and a loss of HK14.82 cents per share.
According to reports, the increase in the Group's losses compared to the previous year was mainly due to the combined effects of (1) an increase of about HK$200 million in fair value losses on financial assets included in the profit and loss statement; and (2) a decrease of approximately HK$6.8 million and HK$6.3 million in income from corporate advisory services and interest income from margin loans, respectively; and (3) a decrease in interest income receivable of approximately HK$22.5 million. The above factors were partly offset by (1) an increase of approximately HK$42 million in recovery of bad debts; and (2) a decrease of approximately HK$65.7 million in losses attributable to associated companies during the year. In order to better evaluate the performance of the Group's core business, losses attributable to associated companies can be excluded to show the loss of the Group's core business before tax. This year, it will be HK$140.9 million, compared to the profit before tax of HK$94.2 million in the previous year.