According to the Zhitong Finance App, Zhongan Group (00672) announced that the Group expects to obtain: (1) an increase of no less than 50% in the unaudited consolidated revenue for the fiscal year ending FY2023 by no less than 50% compared to the fiscal year ended December 31, 2022; and (2) a significant increase in unaudited consolidated net profit for the fiscal year ending FY2023 by no less than 1000% compared to FY2022.
According to the announcement, the expected increase in unaudited consolidated revenue is mainly due to an increase in the total floor area of properties delivered in FY2023, which led to an increase in confirmed revenue for FY2023 compared to FY2022. The expected sharp increase in unaudited consolidated net profit is mainly due to an increase in profit from joint ventures and associated companies due in fiscal 2023 compared to FY2022 and a decrease in tax expenses compared to FY2022.
