Renco Holdings (02323) announced that the group expects a significant improvement in after-tax comprehensive surplus for the six months ending on June 30, 2024, by approximately 116% to no less than about 24 million Hong Kong dollars. This is compared to an after-tax loss of approximately 0.154 billion Hong Kong dollars for the six months ending on June 30, 2023. The board of directors believes that the after-tax comprehensive surplus primarily comes from the unaudited book income of approximately 0.239 billion Hong Kong dollars generated from the sale of all equity in the subsidiary companies that hold non-performing assets during the period. Additionally, a portion of the after-tax comprehensive surplus is offset by (i) a total of approximately 7 million Hong Kong dollars in impairment provisions due to overdue financial assistance provided by the group that has not been recovered and litigation related to overdue accounts receivable and (ii) intercompany offset of unaudited losses of approximately 0.13 billion Hong Kong dollars between the printed circuit board classification business and the financial investment classification business, due to the current volatile and turbulent capital markets.
Renco Holdings (02323) announced that the group expects a significant improvement in after-tax comprehensive surplus for the six months ending on June 30, 2024, by approximately 116% to no less than about 24 million Hong Kong dollars. This is compared to an after-tax loss of approximately 0.154 billion Hong Kong dollars for the six months ending on June 30, 2023. The board of directors believes that the after-tax comprehensive surplus primarily comes from the unaudited book income of approximately 0.239 billion Hong Kong dollars generated from the sale of all equity in the subsidiary companies that hold non-performing assets during the period. Additionally, a portion of the after-tax comprehensive surplus is offset by (i) a total of approximately 7 million Hong Kong dollars in impairment provisions due to overdue financial assistance provided by the group that has not been recovered and litigation related to overdue accounts receivable and (ii) intercompany offset of unaudited losses of approximately 0.13 billion Hong Kong dollars between the printed circuit board classification business and the financial investment classification business, due to the current volatile and turbulent capital markets.
