According to the Zhitong Finance App, Runzhong International Holdings (00202) announced results for the year ended March 31, 2023, with earnings of approximately HK$146 million, a decrease of 2% from last year; loss due to company owners was approximately HK$197 million, down 15.79% from last year; loss of HK2.694 cents per share.

According to the announcement, the decline in revenue was mainly due to a decrease in the average occupancy rate compared to last year, which led to a decrease in hotel business revenue by about 22% to about HK$286.15 million.

Losses were mainly due to confirmed fair value changes in financial assets included in the profit and loss statement at fair value of about HK$41.85 million (2022: loss of approximately HK$68.883 million); loss on changes in fair value of investment properties increased by about 2.3 times to about HK$169 million; mining rights impairment losses decreased by about 84.8% from last year to about HK$16.6808 million, due to an increase in total borrowing, financial costs increased by about 31.3% to about HK$507.62 million.