Xinfeng Group (01223) announced its annual results for the year ended December 31, 2023. The group obtained revenue during the period...
According to the Zhitong Finance App, Xinfeng Group (01223) announced its annual results for the year ended December 31, 2023. The group achieved revenue of HK$305 million during the period, up 9.16% year on year; loss attributable to company owners was HK$206 million, an increase of 153.34% year on year; basic loss per share was 6.92 HK cents; and plans to pay a final dividend of HK$0.005 per share.
According to the announcement, the annual losses accrued to company owners during the year were mainly due to a decrease in the fair value of investment properties; fair value losses of financial assets included in profit and loss according to fair value; an increase in financing costs due to rising interbank interest rates in Hong Kong, China; and a lack of comparable one-time income from the annual sale of the “PONY” business.