According to the announcement, the loss was mainly due to a 29.8% decrease in gross profit to about HKD 45.477 million (2023: HKD 64.827 million); the impairment loss of mining rights increased by approximately 219% to about HKD 52.974 million (2023: HKD 16.608 million) due to a decrease in demand for manganese ore in the market; the fair value loss from investment properties owned by the group decreased by 10.2% to about HKD 152 million (2023: HKD 169 million); the impairment loss on property, plant, and equipment was about HKD 11.156 million (2023: zero); and the net result from the decrease in interest cost estimation and financing cost by 42.1% to about HKD 29.227 million (2023: HKD 50.496 million).

The financial performance of Everchina Int'l (00202) for the fiscal year ending March 31, 2024 has been released. The group earned revenue of HKD 102 million, a 12.98% decrease compared to the previous year, and recorded a loss attributable to equity shareholders of HKD 320 million, a 62.74% increase year-on-year. The loss per share was HKD 0.04385.