Zhitong Finance App News, Jiurong Holdings (02358) issued an announcement. The Group expects the loss attributable to company owners for the year ended December 31, 2023 to increase significantly compared to the net loss attributable to company owners for the year ended December 31, 2022.

According to the announcement, the sharp increase in expected losses is mainly due to (i) expected credit loss of approximately HK$103 million in accounts receivable; (ii) expected credit loss of approximately HK$53 million in advance payments, deposits and other receivables; (iii) impairment losses of property, plant and equipment of approximately HK$83 million; and (iv) share of losses of about HK$88 million in associated companies.