On November 21, Gelonghui reported that starglory hldgs (08213.HK) announced that the group expects to report a loss attributable to the owners of the company ranging from 9.1 million HKD to 12.3 million HKD during the six-month period ended September 30, 2024, compared to a loss of about 5.9 million HKD for the same period last year.
The increase in losses is mainly due to a decrease of about 6.1 million HKD in proceeds from the sale of subsidiaries. During the six months ended September 30, 2023, the group sold all equity interests in a subsidiary to an independent third party and Huayin (Shenzhen) Biotechnology Co., Ltd. ("Huayin Biotechnology"), with a total cash consideration of 2 RMB (equivalent to about 2 HKD). As a result of this sale, the group recorded a one-time gain of about 6.1 million HKD from the sale of subsidiaries during the same period last year.
