According to the Zhitong Finance App, China International (01064) announced that the company expects to record a net loss (before tax) of about HK$100 million for the year ended December 31, 2023, compared with the audited (pre-tax) net profit of HK$55 million for the year ended December 31, 2022.

The estimated loss is mainly due to the fact that the Group's investment property portfolio (all located in mainland China) achieved a revaluation loss of approximately HK$107 million (provisional amount) in 2023, compared to the 2022 record revalued surplus of HK$50.7 million (audited amount) after initial assessment by independent professional real estate valuers.