HK Stock Price Fluctuated | GRAND OCEAN AR (00065) fell more than 10%, expected to have a post-tax loss of approximately HK$35 million last year, turning from profit to loss on a year-on-year basis.

GRAND OCEAN AR (00065) fell more than 10%, as of the time of writing, it has dropped by 10.11% to 0.4 Hong Kong dollars, with a turnover of 11.5693 million Hong Kong dollars. On the news front, GRAND OCEAN AR recently announced that the group is expected to incur a post-tax loss of approximately 35 million Hong Kong dollars for the year ending December 31, 2023, turning from a profit to a loss compared to the previous year. The announcement stated that the expected loss is mainly due to the recognition of around 22 million Hong Kong dollars related to the settlement of non-wholly-owned subsidiaries; an increase in depreciation expenses due to the addition of mining equipment; and no impairment loss reversal for properties, factories, equipment, and intangible assets during the year.