Kin Shing Holdings (01630) announced that the group is expected to achieve a tax-exempt... by the end of the fiscal year ending March 31, 2024.
Jiancheng Holdings (01630) recently announced that the group is expected to have a comprehensive net loss after tax of no more than HKD 43.8 million for the fiscal year ending on March 31, 2024, compared to a net profit of approximately HKD 11.9 million for the same period last year.
The main reasons for the loss-to-profit turnaround are: the lack of wage subsidies of about HKD 16.6 million received from the Hong Kong government's 2022 employment support scheme last year; a net loss of approximately HKD 13.8 million from unrealized gains on trading securities and dividend income collected by the trading and investment business segment this year, compared to a profit of approximately HKD 2.4 million last year; and an expected credit loss impairment loss of approximately HKD 40.7 million under the credit loss model for provisions this year, while provisions of approximately HKD 0.2 million were reversed last year.