ZHONGZHENG INTL (00943) announced that the group expects to report a comprehensive loss attributable to the owners of the company of HKD 85 million to HKD 95 million for the six months ending December 31, 2024, compared to a loss of approximately HKD 0.694 billion for the six months ending December 31, 2023.
According to the Zhito Finance APP, ZHONGZHENG INTL (00943) announced that the group expects to achieve a comprehensive loss attributable to the owners of the company ranging from HKD 85 million to HKD 95 million for the six months ending December 31, 2024 (the first half of 2024/25), while approximately HKD 0.694 billion was recorded for the first half of 2023/24. The anticipated loss includes a loss of approximately HKD 36.9 million attributable to the owners from continuing operations (2023/24 first half: HKD 20.5 million); and a loss of approximately HKD 52.2 million from discontinued operations (2023/24 first half: HKD 0.6737 billion).
In the first half of 2024/25, the loss attributable to the owners from continuing operations increased mainly due to the recognition of impairment losses on other receivables of approximately HKD 16.1 million (2023/24 first half: none) and impairment of loans receivable and interest of approximately HKD 2.6 million (2023/24 first half: none). These impairment items are non-cash items, and their values are determined based on the expected credit loss assessment conducted by an independent valuer appointed by the company (to be finalized). Apart from the above impairment items, the group's continuing operations showed improvement in the first half of 2024/25, achieving revenue of approximately HKD 64 million (2023/24 first half: HKD 47.3 million) and gross profit of approximately HKD 16.3 million (2023/24 first half: HKD 14.2 million).
Today, after hitting the high near 24,000 in the early session and entering bearish positions, the index fell sharply by nearly over 600 points, immediately recouping yesterday's losses significantly.
Moreover, today it broke the new high again, reaching a maximum of 24,076, but by the end of the market, it fell back by about 70 points, producing a bearish candle. The current trend has not yet been broken, but from the previous low until now, it has risen close to 6,000 points. It is believed that those with positions can continue to hold until there is a clear trend reversal for profit-taking. Those without positions can wait for a pullback to get in. Actually, it is hoped for a quick pullback, as it allows for entry and also provides a healthy breath.
Currently, the outlook remains the same as before. It is believed that even if there is a pullback, it shouldn't be too deep. However, if Futures fail to stabilize and close below 22,350, there may still be room for decline. The chance of Futures falling below 21,400 in the short term should be low, so it is considered that if a significant pullback occurs, it presents a good opportunity to incrementally go long. Recently, there has been a consistent approach to not hold positions overnight, only focusing on immediate trades, as there is no high chasing and no casual short selling.
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