According to the Zhitong Finance App, China Tiangong Holdings (00428) announced that the Group expects to make a profit of about HK$45 million to HK$55 million as of December 31, 2023, compared with a net loss of approximately HK$48.1 million for the same period in 2022.

According to the announcement, the conversion of loss to profit was mainly due to (i) an increase in unrealized income from listed investments (from a loss of about HK$37.6 million in the same period in 2022 to income of about HK$54.8 million in the reporting period); (ii) an increase in realized income from listed investments (from a loss of about HK$1.2 million in the same period in 2022 to an income of about HK$200,000 in the reporting period); and (iii) an increase in realized income from the sale of loan notes (from a loss of about HK$5.8 million in the same period in 2022 to an income of about HK$3.3 million during the reporting period).