Gelonghui, March 24, 丨 Fengsheng Holdings (00607.HK) announced that after preliminary evaluation of the Group's unaudited comprehensive financial data for the year ended December 31, 2023 and based on the data currently available to the company, compared with the net profit of approximately RMB 409 million for the year ended December 31, 2022, the Group may have recorded a net loss of approximately RMB 446 million in the reporting year.

This is mainly due to (i) the net impairment loss of about RMB 685 million was confirmed during the reporting year, while the net repayment of impairment losses of approximately RMB 990 million was confirmed in 2022, and (ii) the fair value change loss of financial instruments recorded in the reporting year was approximately RMB 67 million, compared to approximately RMB 917 million in 2022.