The Changying Group (Holdings) (00689) released its interim performance for the six months ending June 30, 2024, during which the group achieved a revenue of 36.841 million Hong Kong dollars, a decrease of 4.6% year-on-year; a net profit of 1.034 million Hong Kong dollars, a decrease of 93.69% year-on-year; and basic earnings per share of 0.02 Hong Kong cents.

The announcement stated that the decrease in revenue and net profit was mainly due to the comprehensive impact of the following factors: a decrease in expected credit loss allowances for debt instruments measured at fair value through other comprehensive income, reduced to 0.35 million Hong Kong dollars (June 30, 2023: 3.824 million Hong Kong dollars); an expected credit loss allowance of 0.395 million Hong Kong dollars for receivables and interest (June 30, 2023: reversal of expected credit loss allowance of 9.719 million Hong Kong dollars); and recognition of exchange losses of 3.753 million Hong Kong dollars during the first half of 2024 due to the depreciation of the Canadian dollar against the Hong Kong dollar (June 30, 2023: exchange gains of 2.417 million Hong Kong dollars). The earnings per share for this interim period is 0.02 Hong Kong cents (June 30, 2023: 0.31 Hong Kong cents).