According to the 2024 annual performance report ending March 31, Asia Orient (0214) achieved a revenue of HKD 1.903 billion, a year-on-year decrease of 17%. Shareholders of the company suffered a loss of HKD 3.769 billion, compared with a profit of HKD 429 million in the same period last year, with a loss per share of HKD 4.48.

The announcement stated that the main reason for the transformation from profit to loss was the increase in expected credit losses for debt securities investments. Other changes included the failure of the joint venture property development project in Gu Dong Bei to reach an agreement with the government on the amount of land price subsidies within the stipulated time limit, resulting in the government recovering the land afterwards, leading to depreciation allowances for the joint venture enterprise and a significant decrease in fair value gain on investment properties. All provisions and fair value gains are non-cash items and will not have a direct impact on the group's cash flow.