Gelonghui November 13th 丨 WANG ON GROUP (01222.HK) announced,The Group expects to record a loss of approximately HK$23.6 million attributable to equity holders in the parent company for the six months ended September 30, 2022, to profit to a profit of no more than HK$130 million attributable to equity holders of the parent company for the six months ended September 30, 2023.

This was mainly due to (i) the increase in the performance of the joint venture; and (ii) the increase in sales and gross profit from the production and sale of pharmaceuticals and health food, which was partly offset by a decrease in gross profit due to (a) reduced delivery of property projects; and (b) increased financing costs due to increased interest rates. This was compared with the same period in 2022 during the review period.