Hanison (00896.HK) announced on June 24th that the group is expected to record a net loss of HKD 210,000,000 and HKD 220,000,000 for the year ending March 31, 2024, compared to a net loss of HKD 38,400,000 in the previous year. The expected net loss is mainly due to rising interest rates and a downturn in the property market, resulting in a valuation loss of investment properties held by the group and joint ventures, as well as a loss of valuation for development of unsold properties totaling HKD 187,400,000, along with interest expenses of approximately HKD 65,600,000.

The expected valuation loss of investment properties and the loss of valuation for development of unsold properties are recognized in this year's financial statements through fair value changes in investment properties, the reduction of unsold properties in development, provisions for expected credit losses on loans to joint ventures, and the share of losses in joint ventures.