According to the Zhitong Finance App, Longcheng Financial (01225) announced its interim results for the six months ended June 30, 2023. The group achieved revenue of HK$798.02 million, a year-on-year decrease of 4.1%; the loss attributable to company owners was HK$203.38 million, a year-on-year decrease of 79.81%; and a loss of 8.83 HK cents per share.

The announcement stated that the decline in comprehensive revenue was mainly due to a decrease in medical product sales, of which the reduction amount was about HK$7.4 million. The decrease in losses was mainly due to a decrease of about HK$82.3 million in other income and losses, mainly due to confirmed losses of HK$38.9 million in fair value changes in financial assets treated at fair value through profit and loss accounts, as well as impairment losses of HK$52.6 million on trade and other receivables and impairment losses of HK$52.6 million on trade and other receivables compared to the same period in 2022.