The Zhītōng Finance App reported that HK Chinese Ltd (00655) announced that it is expected to obtain a comprehensive profit of 89 million Hong Kong dollars for the six months ending on June 30, 2023, while it is expected to obtain a comprehensive loss attributable to shareholders of no less than 0.4 billion Hong Kong dollars for the six months ending on June 30, 2024.

The loss is mainly due to the fact that during this period, the group's share of losses in joint ventures is no less than 0.4 billion Hong Kong dollars (previous period: profit of 90.6 million Hong Kong dollars), which is mainly due to impairment losses and provisions made in light of the slowdown in the current property market in China and the current economic environment affecting the development of its properties and joint ventures, as accounted for using the equity method by a joint venture. The losses of the group's joint ventures are of a non-cash nature.