Glonghui May 2 丨 Chuangshi Institutions International (00367luckyphoenixmegaways.HK) announced that the Group expects to record a loss attributable to equity holders of the company to be approximately HK$885 million to HK$955 million for the year ending March 31, 2024, compared with a loss of approximately HK$966 million for the same period last year.
The loss for the year ended March 31, 2024 was mainly due to (i) the recognition of the Group's investment propertiesluckyphoenixmegawaysFair value losses on the Group's bond investments;(ii) recognition of impairment provision for the Group's properties pending/under development; and (iii) recognition of unrealized fair value losses on the Group's bond investments based on market prices as at 31 March 2024. However, shareholders and potential investors of the company should note that the above factors are accounting losses and have no direct impact on the Group's cash flow. Although the Group expects to record a loss for the year ending March 31, 2024, the Group's financial position remains healthy.