Huarong Financial Holdings (00993) announced its annual results for the year ended December 31, 2023. The group took...
According to the Zhitong Finance App, Huarong Financial Holdings (00993) announced its annual results for the year ended December 31, 2023. The group achieved revenue of HK$202 million during the period, a year-on-year decrease of 26.93%; losses attributable to shareholders amounted to $967 million, a year-on-year decrease of 61.31%; and a basic loss of 11.1 Hong Kong cents per share.
According to the announcement, the decrease in net annual losses was mainly due to the Group's significant impairment provision of HK$260 million (previous year: HK$1.22 billion) for its direct investment in debt instruments, accounts receivable, loans and margin financing advances, as well as a reduction in losses on the sale of financial assets recorded at amortized costs.