Travel agency Cinese International Group Holdings (HKG:1620) expects to report a loss before tax of at least HK$28.0 million for 2024, against a profit before tax of HK$5.2 million in 2023, according to its Tuesday bourse filing.
The anticipated loss stems primarily from a HK$29.7 million provision for expected credit losses on financial assets, contrasting with a HK$1.2 million ECL reversal in the prior year, due to deteriorating receivables from certain debtors.
The results will be published by March 28.
Cinese International Group Holdings' shares gained more than 4% at market close.
Price (HKD): $0.05, Change: $+0.0020, Percent Change: +4.44%
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