According to the Zhitong Finance App, Acer Capital (02288) announced the results for the year ended March 31, 2023, with earnings of HK$87.695 million, up 0.87% year on year; loss due to the company's common shareholders was about HK$189 million, an increase of about 4.43 times over the previous year; loss of HK50.4 cents per share.

According to the announcement, the losses were mainly due to significant losses confirmed by amortization of a joint venture company mainly engaged in property development business due to the weak climate and intense competition in the commercial property market in Hong Kong, losses incurred by amortization joint ventures during the year due to the continued adverse effects of the COVID-19 outbreak, and increased financing costs due to rising interest rates.