According to the Zhitong Finance App, Dingyi Group Investment (00508) announced that compared with the net loss of about HK$101 million for the year ending March 31, 2022, the Group expects to achieve a net profit of about HK$5 million for the year ending March 31, 2023.

According to the announcement, the increase in the Group's financial performance was mainly due to the increase in property development business revenue confirmed when the customer obtained control of the completed property; the sales revenue was recognized as a contract liability (that is, security deposit collected from the customer) in the previous fiscal year; and the reduction in non-cash impairment losses confirmed in respect of anticipated credit losses on receivable loans and interest.