This is due to the absence of $50.4m (RMB271.8m) impairment losses from its India projects.
Zheneng Jinjiang Environment Holding Company Limited expects an increase in its comprehensive income for the second half year (H2) and financial year (FY) 2024, over H2 2023’s $4.2m (RMB22.8m) and FY 2023’s $59.3m (RMB319.6m).
This is due to the absence of $50.4m (RMB271.8m) impairment losses in aggregate recorded as of 31 December 2023 given the difficulties associated with projects formerly owned by the group in India.
As announced by the company on 1 June 2024, it has since disposed of its equity interests in the India Projects to an unrelated third party.
The company will provide further details when it releases the unaudited financial results for H2 2024 and FY2024 on or before 1 March 2025.
($1=RMB5.3)
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.