According to the Zhitong Finance App, Huaxing Holdings (08237) announced its annual results for the year ended December 31, 2022. The group obtained revenue of HK$333.15 million, a year-on-year decrease of 32.96%; losses attributable to the owners of the company were HK$54.281,000, a year-on-year decrease of 51.98%; and a loss of 1.56 HK cents per share.

According to the announcement, the reduction in losses was mainly due to the sharp reduction in impairment losses in the Group's hotel business from about HK$76.8 million in the previous fiscal year to about HK$10.1 million in the current fiscal year.