China Renaissance Reports Annual Financial Shift

China Renaissance Holdings (HK:1911) has released an update.

China Renaissance Holdings Limited has reported a significant shift from a profit of RMB 1.645 billion in 2021 to a loss of RMB 454 million for the year ended December 31, 2022. The company’s total revenue also decreased from RMB 1.744 billion in 2021 to RMB 1.585 billion in 2022, with operating expenses slightly rising. They also use a non-IFRS measure, adjusted net loss, which shows a substantial change from a profit of RMB 585.9 million in 2021 to a loss of RMB 451 million in the same period.

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