亏损减少主要由于集团金融资产计提预期信贷亏损拨备的减少约7810万港元;集团商誉计提减值亏损拨备的减少约960万港元及由于集团若干附属公司于截止2023年3月31日止年度出售而导致财务成本减少约2840万港元所致。Rongzhong Fin (03963) announced its annual results for the year ended March 31, 2024, with revenue of HKD 89.04 million...
Rongzhong Fin (03963) announced its annual results for the year ended March 31, 2024, with revenue of HKD 89.04 million, a YoY increase of 4.92%. Net loss attributable to owners of the company was HKD 9.615 million, a YoY decrease of 92.28%. Loss per share was 2 Hong Kong cents.
The announcement stated that the increase in revenue was mainly due to the group's effective implementation of a global strategy, expanding into new business locations, and beginning to process loans with relatively high liquid assets and generally small loan volumes, while trying to minimize credit risk while increasing leasing business.
The decrease in losses was mainly due to a reduction of approximately HKD 78.1 million in expected credit losses provision for the group's financial assets; a reduction of approximately HKD 9.6 million in impairment provision for the group's goodwill; and a decrease of approximately HKD 28.4 million in finance costs arising from the disposal of certain subsidiaries of the group for the year ended March 31, 2023.
