Zhitong Financial APP News, Oceanwide Hotel (00292) announced its results for the year ended March 31, 2022, with a total revenue of HK $990 million, an increase of 1.3% over the same period last year; a loss of HK $746 million attributable to shareholders, a profit of HK $622 million in the same period last year; and a basic loss of HK $37.0 per share.

The loss during the period was mainly due to the net investment loss for the year (2021: gains), including the unrealised net loss on listed debt securities and the increase in the provision for expected credit losses as a result of the liquidity crisis experienced by the real estate sector in China.