BINHAI INV (02886): Adopting Renminbi as the presentation currency for the Group's consolidated financial statements.
Binhai Investment (02886) announces that the company has decided to adopt the renminbi as the reporting currency for the group's consolidated financial statements. The group's consolidated financial statements have been presented in Hong Kong dollars, while the functional currency is renminbi. Considering that the group's main businesses and assets are located in mainland China and denominated and settled in renminbi, subsidiary companies mainly use renminbi as the reporting currency. The board of directors believes that changing the reporting currency will allow company shareholders and potential investors to have a more accurate and clear understanding of the group's financial performance.
BINHAI INV (02886) announced that the company has decided to adopt the Renminbi as the reporting currency for the group's consolidated financial statements. The group's consolidated financial statements have always been presented in Hong Kong dollars, while the functional currency is the Renminbi. Considering that the group's main business and assets are located in mainland China and valued and settled in Renminbi, the subsidiary companies mainly use Renminbi as the reporting currency. The board of directors believes that changing the reporting currency will enable company shareholders and potential investors to more accurately and clearly understand the financial performance of the group.
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