Gelonghui July 18th 丨The Associated Press Group (01200.HK) announced that compared to the net loss of about HK$232 million due to equity holders for the same period last year, it is expected that the net profit attributable to equity holders recorded by the Group for the six months ended June 30, 2023 will not exceed HK$40 million.

According to the announcement, the Group's performance turned a loss into a profit, based, among other factors, on: (1) the Group's “American Properties” and “Hong Kong Real Estate” recorded operating profits during this period, while the same period in 2022 recorded operating losses. These improvements are due to (i) the Group's rising market share in Hong Kong; and (ii) successfully seizing the rebound in the Hong Kong residential property market; and (2) the Group's commitment to streamlining business in Hong Kong and Mainland China while maintaining competitiveness on the local front line.