Huaxin Real Estate Finance (00252) announced that the group is expected to have a net profit not exceeding HKD 60 million for the fiscal year ending on March 31, 2024, compared to a net profit of approximately HKD 30.50 million for the fiscal year ending on March 31, 2023.

This is mainly due to the net income recognized by the joint venture company in this fiscal year (which is a surplus income generated by the fair value change of the land and ownership rights acquired by the group's joint venture company, Titian Dragon Properties Corporation), which offset the losses generated by the fair value changes of investment properties held by the group in this fiscal year.