new century gp (00234) announced that, as of September 30, 2024, the group is expected to acquire the company's ownership for the six months ending...
China Finance APP News, new century gp (00234) announced that, it is expected that the group will incur a loss attributable to the company's owners of not more than 6 million Hong Kong dollars for the six months ended September 30, 2024, compared to a profit attributable to the company's owners of approximately 26 million Hong Kong dollars in the same period last year.
The announcement stated that the expected performance shift from profit to loss is mainly due to the following factors: the group's investment property fair value loss (2023: fair value gain); impairment provisions for mortgage loan collateral assets in the lending business and increased impairment provisions for receivables and interest, both on the rise; and gains from the sale of subsidiaries have been realized in the previous period. Part of these factors have been offset by the performance improvement from the securities trading business shifting from loss to profit.
