In a profit guidance filing, the company says it also expects to report lower revenue for FY2023 compared to its FY2022 results, due to lower transfers of control in Pan Hong Run He property units.

Pan Hong reported revenue and profit after tax of RMB314.7 million and RMB68.8 for its FY2022.

“As the group is primarily engaged in property development business, revenue recognition is dependent on the launch of new projects and transfer of control of sold properties,” says Pan Hong. “Consequently, revenue and profit for the group looking across periods will appear irregular.”

Pan Hong has advised that further details of its performance will be set out in the company’s unaudited financial results for FY2023, to be released on or before May 30.

Shares in Pan Hong closed flat at 10.6 cents on May 12.

Pan Hong expects loss after tax for FY2023 in profit guidance

US stock faithful ride US$7 trillion rally as market timing backfires

Qarbotech named winner of inaugural EQT Impact Challenge

MSCI boss warns of climate risks

Keppel to acquire 50% stake in European asset manager Aermont Capital for up to $517 mil

Local banks 'resilient' in 2023, but MAS warns of deteriorating asset quality, climate transition risks

Straits Times Index likely to move progressively higher 

XMH Holdings posts six-fold earnings increase to $6.5 mil for 1HFY2024

Tech news in less than 5 minutes – December 2023

Why the return-to-office wave is a wake-up call for businesses  

Developing robust AI strategies

Hong Kong's stock slump triggers wave of brokerage closures

Sabana Trustee disagrees with suggestion of wrongdoing or delay on its part

Sembcorp's GoNetZero launches 'conversational AI' to simplify energy insights

Weekout (Dec 11): Janice Wong, Butcher’s Block, Cat Bite Club, 39+ Art Space

Musée Atelier Audemars Piguet takes visitors on a journey through the cultural legacy of the Swiss manufacturer 

Parmigiani Fleurier CEO Guido Terreni shares insights into the brand’s philosophy

A victory lap for the transitory inflation team

Shopping in the Garden City this Christmas

Singapore in 2024: Stepping into uncharted waters

Seatrium secures FPSO topside modules fabrication contract from MODEC

Is it time to add into S-REITs despite the sector's 7% gain in November?

Seatrium appoints Adrian Teng as new CFO

ComfortDelGro raising taxi fare structure with effect from Dec 13

OCBC's Wong reaffirms One Bank vision with eyes firmly on shareholders’ returns 

Pan Hong expects loss after tax for FY2023 in profit guidance

Related News

Highlights

US stock faithful ride US$7 trillion rally as market timing backfires

Related News

Kimly earnings up 7.2% y-o-y to $36.5 mil for FY2023 from confectionery business disposal

Marco Polo Marine reports earnings of $18.3 mil for 2HFY2023, 74.1% higher y-o-y

LHN earnings down 16.6% to $38.2 mil in FY2023 despite revenue growth