Guangzhou News September 20th, China Env Res (01130.HK) announced that the expected audited comprehensive loss for the fiscal year ending June 30, 2024 is approximately 35.2 million Hong Kong dollars, an increase of not less than 100% compared to the same period in 2023.

The board of directors believes that the increase in the loss is due to the comprehensive impact of the following items for the year ending June 30, 2024: (i) mainly due to changes in income and products, resulting in a gross profit increase of approximately 17.7 million Hong Kong dollars; (ii) other income decreased to approximately 1.9 million Hong Kong dollars; (iii) administrative and operating expenses decreased to approximately 40.9 million Hong Kong dollars; (iv) fair value loss on investment properties increased to approximately 17.3 million Hong Kong dollars; (v) fair value changes in biological assets, net of selling costs, led to an increase in losses of approximately 38.6 million Hong Kong dollars; (vi) fair value changes in income from investments recognized at fair value increased to approximately 1.6 million Hong Kong dollars; (vii) impairment losses on accounts receivable decreased to approximately 0.3 million Hong Kong dollars; (viii) financing costs increased to approximately 6.8 million Hong Kong dollars; and (ix) tax credits increased to approximately 10.6 million Hong Kong dollars.