According to the Zhitong Finance App, China Paint Group (01932) announced that the Group's shareholders' losses are expected to be about HK$57 million to HK$69 million in 2023, a sharp decrease of 30% to 42% over the previous year.

According to the announcement, the expected loss reduction is mainly due to the following main factors: an increase in rental income, which is due to the leasing of several of the Group's previously underutilized plants in mainland China; a decrease in sales and distribution expenses and administrative expenses, due to the Group's decline in sales of paint and coatings products, combined with the Group's consolidation of production facilities last year; a reduction in employee dismissal expenses in other operating expenses; and a sharp improvement in sales margin of paint and coating products after the Group suspended production of paint and coating products with lower gross margins.