According to the Zhitong Finance App, China Financial Investment Management (00605) issued an announcement. Compared with the loss due to corporate equity holders of about HK$52.6 million for the year ended December 31, 2022, the Group expects the loss attributable to corporate equity holders for the year ended 31 December 2023 to be approximately HK$150 million to HK$160 million.

The main reasons for the increase in losses during the reporting period were: as economic recovery was slower than expected and competition with mainland Chinese banks intensified due to increased competition with banks in mainland China due to increased support for small and micro enterprises in mainland China, leading to a decrease in financing business revenue of about 34.5% and HK$69.4 million; compared with the same period in 2022, due to unpaid loans receivable during the reporting period, continued delays in repayment by several debtors, and a significant increase in impairment losses on loans receivable due to the weakening of the mainland China property market; and cash generation from mainland China The combined effect of a significant increase in impairment of goodwill due to a decrease in expected revenue from the unit business.