Gelonghui, March 13, 丨 New Silk Road Cultural Tourism (00472.HK) announced that, according to the Group's unaudited comprehensive management accounts for the full year ended 31 December 2023 (“within the year”), compared with the loss attributable to Group owners of about HK$110 million in 2022, it is expected that the Group owner should account for a loss of about HK$80 million to HK$100 million.
The decrease in annual losses was mainly due to the profit contribution of the property management division acquired by the Group in May 2023 being offset by impairment of the Group's intangible assets and holding completed properties for sale, as fair value declined in the second half of 2023 in an environment of continued high interest rates.