According to the Zhitong Finance App, Shunhao Holdings (00253) announced final results for the year ended December 31, 2023, with total revenue of HK$606 million, a year-on-year decrease of 1.09%; annual loss of HK$89,194 million, while profit of HK$647 million was achieved in the same period in 2022; company owners should have accounted for losses of HK$45.18 million, while profit of HK$258 million was achieved in the same period of 2022; loss of HK$18.62 per share.

For the year ended 31 December 2023, net profit attributable to the owners of the company before tax was HK$47 million (2022: HK$118 million), a decrease of HK$71 million (2022: HK$118 million) without taking into account revaluation, depreciation and impairment of land, property and equipment, and sale of subsidiaries.

In 2023, the Group's hotel revenue increased by 6% compared to last year. Under the dedicated leadership of management, the Group's hotels quickly carried out large-scale renovation and sales activities in response to customs clearance between the Mainland and Hong Kong at the beginning of the year to resume normal operations after transforming into hotels with designated quarantine and community quarantine facilities during the pandemic years. The Group's annual average hotel occupancy rate is over 90%. However, the Group's net profit for the year was affected by hotel renovation costs, increased operating expenses due to labor shortages, opening costs and additional taxes from the acquisition of the Grand Bay Hotel, and a decrease in office rental revenue.