On May 21, GLONGHUI | Capital Venture Capital (02324.HK) issued an announcement. Compared with the unaudited consolidated net loss recorded for the six months ended March 31, 2023, the company expects to record unaudited consolidated net profit for the six months ended March 31, 2024.

The change was mainly due to an improvement in the Group's listed investment performance and the net impact of anticipated credit losses confirmed during the period in respect of the Group's other receivables. The Group recorded a net loss of about HK$68.3 million on listed investments during the 2023 period, while a net profit of about HK$41.4 million was recorded during the current period. As far as anticipated credit loss assessment is concerned, the Group confirmed an expected credit loss of approximately HK$19.1 million in respect of other receivables during the period, and recorded a total expected credit loss of HK$10.2 million for bond investments, deposits and other receivables during the 2023 period. In addition to the above, and taking into account administrative and other expenses, the Group expects to record a net profit of approximately HK$18 million to HK$22 million in the financial statements for the period.