Changying Group (Holdings) (00689) announced the results for the year ended December 31, 2023. The group achieved...
According to the Zhitong Finance App, Changying Group (Holdings) (00689) announced the results for the year ended December 31, 2023. The group received revenue of HK$83.082 million, an increase of 84.2% over the previous year; annual profit of HK$21.5 million, a loss of HK$467.46 million for the same period last year; profit per share of HK$0.41.
The Group's performance turned a loss into profit, with profit attributable to the company's owners of HK$21.5 million (2022: loss of HK$467.46 million), mainly repayment of expected credit losses of HK$11.3 million (2022: anticipated credit loss provision of HK$2.019 million); expected credit loss provision through other debt instruments with full income at fair values was reduced to HK$8.832 million (2022: HK$11.081 million); profit contribution from petroleum exploration and production operations increased to HK$1,784,000 Yuan (2022: HK$4,078 million); Other expenses were reduced to HK$10.731 million (2022: HK$14.875 million) due to the absence of professional expenses for the acquisition of Petro-Canada assets; and the combined impact of an increase in bank and other interest income to HK$5.856 million (2022: HK$1.343 million).