Mar 18, 2023 06:14 PM

China Everbright’s Hong Kong Unit Reports Almost $1 Billion Loss for 2022

What’s new: China Everbright Ltd., the Hong Kong-listed subsidiary of state-owned financial conglomerate China Everbright Group Ltd., recorded a HK$7.4 billion ($942.7 million) loss attributable to shareholders last year, reversing a HK$2.6 billion profit in 2021, its financial report showed on Friday.

“The extensive and overall pullback in the financial markets around the globe posed major challenges to the group’s cross-border investment and asset management business in 2022,” the report said, noting the impact from the fall in global stock indexes, inflation, tightening of monetary policies and the depreciation of the yuan.

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