According to the Zhitong Finance App, Abo Technology Holdings (08279) announced its second interim results for the 12 months ended December 31, 2023, with revenue of approximately HK$596 million, up 69.73% year on year; profit attributable to company owners was HK$30.68 million; loss of approximately HK$127 million for the same period in 2022; basic profit per share was HK$0.263 cents.

According to the announcement, the conversion of loss into profit was also mainly due to the increase in market interest rates over a 12-month period, which increased net financing revenue by about HK$16.5 million to about HK$60.8 million; and obtaining fair value gains of about HK$2.2 million over a 12-month period (12 months ending 31 December 2022: fair value loss of approximately HK$39.9 million), mainly from the Group providing about HK$3.6 million in convertible term loan fair value income to the joint venture in India, which has 45% equity interest.