China New Economy Fund Faces Major Losses

China New Economy Fund Ltd. (HK:0080) has released an update.

China New Economy Fund Limited has reported a significant shift in its financial performance, with the company experiencing a substantial loss for the six-month period ending June 30, 2024. Contrasting the previous year’s profit, the latest unaudited interim results show a loss of HK$12.7 million, a stark turnaround from the HK$8.9 million profit in the same period in 2023. This notable decrease is primarily attributed to a negative change in the fair value of financial assets and increased operating expenses.

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