On August 11, GLONGHUI | RITU HOLDINGS (01008.HK) announced that the company expects to record losses of about HK$46.2 million to HK$56.4 million due to company owners in the six months ending June 30, 2023, while the same period in 2022 recorded a profit of about HK$16.6 million due to company owners.

Losses attributable to company owners are mainly due to the following factors: (i) a reduction of approximately HK$22.5 million in the performance of an affiliate company; (ii) confirmation of loss of impairment of equity of approximately HK$20.0 million; and (iii) loss of impairment of goodwill of approximately HK$48.2 million.